Assume the total cost of a college education will be 114000


Assume the total cost of a college education will be $114000 when your child enters college in 13 years. You presently have $30000 to invest. What annual rate of interest must you earn on your investment to cover the cost of your child's college education? Enter answer as 3 decimal places (e.g. 0.123).

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Financial Management: Assume the total cost of a college education will be 114000
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