THINK LIKE AN ACCOUNTANT Planning for College and Beyond ohn Melby wants to be sure that he has enough money to send his newborn son to college. His college of choice is estimated to cost $100,000 for a four-year education, including tuition, books, room, and board. John wants to know whether a $5,000 annual contribution to a college fund will grow to $100,000 when his son enters college at the age of 18. The money would be invested in an account that is not subject to income taxes as long as the money will be used to pay educational expenses. OPEN THE SPREADSHEET TLA CHO2 Answer the Following Questions about the College Fund Investment: I. If John can earn a 6% annual return on the fund's investments, will he reach his $100,000 goal