3. 72. Calculating interest rates [LO 6.4] A financial planning service offers a university savings program. The

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3. 72.

Calculating interest rates [LO 6.4] A financial planning service offers a university savings program. The plan calls for you to make six annual payments of $15 000 each, with the first payment occurring today, your child’s 12th birthday. Beginning on your child’s 18th birthday, the plan will provide $32 000 per year for four years. What return is this investment offering?

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