signment Question 7, P5-16 (similar to) HW Score: 40%, 20 of 50 points O Points: 0 of 3 Save (Related to Checkpoint 5.6) (Solving for /) Kirk Van Houten, who has been married for 23 years, would like to buy his wife an expensive diamond ring with a platinum selling on their 30-year wedding anniversary. Assume that the cost of the ring will be $12,500 in 7 years. Kirk currently has 54,411 to Invest. What annual rate of return must Kirk cam on his investment to accumulate enough money to pay for the ring? The annual rate of return Kirk must eam on his investment to accumulate enough money to pay for the ring is %. (Round to two decimal places.)