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What annual rate of interest must earn on investment

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Assume the total cost of a college education will be $340,000 when your child enters college in 18 years. You presently have $54,000 to invest.

Problem 1: What annual rate of interest must you earn on your investment to cover the cost of your child's college education? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

Reference no: EM132943442

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