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Annual rate of interest

Problem:

Assume the total cost of a college education will be $250,000 when your child enters college in 17 years. You presently have $69,000 to invest.

Required:

Question: What annual rate of interest must you earn on your investment to cover the cost of your child's college education?

Note: Provide support for rationale.

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Accounting Basics: Annual rate of interest

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Accounting Basics: Annual rate of interest

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Reference No:- TGS0890360

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