Kirk Van Houten, who has been married for

1818

years, would like to buy his wife an expensive diamond ring with a platinum setting on their

3030-year

wedding anniversary. Assume that the cost of the ring will be

$15 comma 74315,743

in

1212

years. Kirk currently has

$4 comma 5004,500

to invest. What annual rate of return must Kirk earn on his investment to accumulate enough money to pay for the ring?Click the table icon to view the PVIF table

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.

The annual rate of return Kirk must earn on his investment is

nothing%.