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Matt Jones is planning for his child's college education. Assume the total cost of a college education will be $200,000 when his child enters college

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Matt Jones is planning for his child's college education. Assume the total cost of a college education will be $200,000 when his child enters college in 16 years. He presently has $75,000 to invest. What rate of interest must he earn on the investment to cover the cost of his child's college education? 11.51% 8.40% 6.32% 7.28% 9.50%

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