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S05-06 Calculating Interest Rates [LO3] Assume the total cost of a college education will be $325,000 when your child enters college in 18 years. You
S05-06 Calculating Interest Rates [LO3] Assume the total cost of a college education will be $325,000 when your child enters college in 18 years. You presently have $85,000 to invest. What annual rate of interest must you earn on your investment to cover the cost of your child's college education? (Do not round intermediate calculations and enter your answer as a percent rounde to 2 decimal places, e.g., 32.16.) Annual rate of interest
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