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Suppose you have a 4-year old son and you want to provide R55 000 in 16 years towards his college education. You currently have R5000

Suppose you have a 4-year old son and you want to provide R55 000 in 16 years towards his college education. You currently have R5000 to invest. What interest rate you must earn to have the R55 000 when you need it? 7 marks

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