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Assume the total cost of a college education will be $330,000 when your child enters college in 16 years. You presently have $52,000 to Invest.

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Assume the total cost of a college education will be $330,000 when your child enters college in 16 years. You presently have $52,000 to Invest. What annual rate of interest must you earn on your investment to cover the cost of your child's college education? Note: Do not round Intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16. Annual rate

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