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Posted on Jun 06, 2024

Assume the total cost of a college education will be $250,000 when your child enters college in 17 years. You presently have $62,000 to invest.

What annual rate of interest must you earn on your investment to cover the cost of your childs college education? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

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