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Mr. Berkholz wants to invest $5000 into an account to save for his daughter for college. He is 'guaranteed' a 5.2% annual return on his investment by his financial advisor. How much will the account be
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Mr. Berkholz wants to invest $5000 into an account to save for his daughter for college. He is 'guaranteed' a 5.2% annual return on his investment by his financial advisor. How much will the account be worth in 12 years when she goes to college?

User Kalpesh Dabhi
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7.2k points

1 Answer

3 votes

The answer is: $9,186.69

User Espen Burud
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