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Assume the total cost of a university education will be 290000 when your child enters university in 18 years. You currently have 55000 to invest.

Assume the total cost of a university education will be 290000 when your child enters university in 18 years. You currently have 55000 to invest. what annual rate of interest must you earn on your investment to cover the cost of your child's university education?

a) 6.24%

b) 9.68%

c) 8.39%

d) none of the above

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