Calculating rates of return assume the total cost of a, Finance Basics

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Calculating rates of return assume the total cost of a

Question: Calculating Rates of Return. Assume the total cost of a college education will be dollar 295,000 when your child enters college in 18 years. You presently have dollar 53,000 to invest. What annual rate of interest must you earn on your investment to cover the cost of your child's college education?

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