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Assume the total cost of a college education will be $325,000 when your child enters college in 17 years. You presently have $120,000 to invest
Assume the total cost of a college education will be $325,000 when your child enters college in 17 years. You presently have $120,000 to invest for this purpose. What rate of interest must you earn to cover the cost of your child's college education?
A. | 7.06 percent
| |
B. | 5.12 percent | |
C. | 5.78 percent | |
D. | 4.84 percent | |
E. | 6.26 percent |
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