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Assume the total cost of a college education will be $275,000 when your child enters college in 16 years. You presently have $30,000 to invest

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Assume the total cost of a college education will be $275,000 when your child enters college in 16 years. You presently have $30,000 to invest and do not plan to invest anything further. What annual rate of interest must you earn on your investment to cover the entire cost of your child's college education? 13.99 percent 12.65 percent 10.40 percent 14.85 percent 11.08 percent

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