Today Raylin Givens invested $3,000 for his one-year-old daughter. He intends to use this fund for her education 17 years from now. He estimates he will need $40,000 at that time. What average annual compound rate of return will Raylin need to achieve his goal?

Answer rating: 100% (QA)

To calculate the average annual compound rate of return we can use ... View the full answer