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

Kirk Van Houten, who has been married for 22years, would like to buy his wife an expensive diamond ring with a platinum setting on their30-year wedding anniversary. Assume that the cost of the ring will be $ 11,500 in 8 years. Kirk currently has $ 4,433 to invest. What annual rate of return must Kirk earn on his investment to accumulate enough money to pay for the ring?

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