A college savings education plan claims that had you invested $375 per month in the plan for the last 16 years you would have accumulated $280,000. Assuming the investments were made at the end of...

A college savings education plan claims that had you invested $375 per month in the plan for the last 16 years you would have accumulated $280,000. Assuming the investments were made at the end of each month, calculate the effective annual rate of return an investor would have received on a compounded basis using either Goal Seek or Solver.