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Assume the total cost of a university education will be 290,000 when your child enters college in 18 years. You presently have 40,000 to invest.

Assume the total cost of a university education will be 290,000 when your child enters college in 18 years. You presently have 40,000 to invest.

Required: What annual rate of interest must you earn on your investment to cover the cost of your child's university education?

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