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Kirk Van Houten, who has been married for 2 2 years, would lik to buy his wife an expensive diamond ring with a plantinum setting

Kirk Van Houten, who has been married for 22 years, would lik to buy his wife an expensive diamond ring with a plantinum setting on their 30-year anniversary. Assume that the cost of the ring will be $12,495 in 8 years. Kirk currently has $4,700 to invest. What annual rate of return must Kirk earn on his investment to accumulate enough money to pay for the ring?rate of return must Kirk earn on his investment to accumulate enough money to pay for the ring?
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