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David Wells has just invested $ 9 , 5 0 0 for his daughter ( age three ) . The money will be used for

David Wells has just invested $9,500 for his daughter (age three). The money will be used for her college education 15 years from now. He calculates that he will need $85,000 for her education by the time she starts college. What rate of return will David need to achieve this goal?

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