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Assume the total cost of a college education will be $170,000 when your baby enters college in 18 years. You presently have $40,000 to invest.

Assume the total cost of a college education will be $170,000 when your baby enters college in 18 years. You presently have $40,000 to invest. What rate of interest must you earn on your investment to cover the cost of your baby's college education?

Group of answer choices

5.56 percent

7.92 percent

6.74 percent

8.37 percent

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