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Assume the total cost of a college education will be $325,000 when your child enters college in 18 years. You presently have $85,000 to Invest.

image text in transcribedimage text in transcribed Assume the total cost of a college education will be $325,000 when your child enters college in 18 years. You presently have $85,000 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 Intermedlate calculatlons and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16. a. At 4.3 percent Interest, how long does it take to double your money? Note: Do not round Intermedlate calculations and round your answer to 2 decimal places, e.g., 32.16. b. At 4.3 percent Interest, how long does it take to quadruple your money? Note: Do not round Intermedlate calculatlons and round your answer to 2 decimal places, e.g., 32.16

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