Your rich grandfather promised your parents when you were born that they would be able to afford to send you to a private college like NYIT. Hence, he put $7, 500 in your college savings account at the end of each of your first 18 years of life The account averaged 2% return over that 18 years. As an entering freshman, you think you will have no problem paying all the college bills. But there is a problem. The average inflation rate for college tuition over those 18 years has been 9%. What is the actual amount of money you have at age 18 to pay your college bills? What is the real value of this money relative to when you were born