Problem:
Fourteen years ago, your parents set aside $7,500 to help fund your college education. Today, that fund is valued at $26,180.
Required:
Question: What rate of interest is being earned on this account?
A) 7.99 percent
B) 8.36 percent
C) 8.51 percent
D) 9.34 percent
E) 10.06 percent
Note: Please explain comprehensively and give step by step solution.