I am trying to save for my daughters education. Right now she is 1 years old and she will be attending school when she is 20. Currently I have $76,000 to invest and I will not be able to contribute anymore through out that time. I estimate that she will need $20000 a year for dormitory costs at an average BC post secondary institution, her costs per semester for school and books will be $8000 and she will have food costs of about $10000 a year. I want to save for a 4 year post secondary program. Using the rule of 70, calculate the average growth rate I would need over that time period to have enough for her to go to school. The average growth rate needs to be _____________ percent.

***Round your answer to the nearest 2 decimal places***