The total cost of your child college education will be $200,000 when your child enters college in 18 years. You presently have $30,000 to invest. What annual rate of interest you must earn on your investment to cover the cost of your child's college education? 8,25% 9.36% 10% 11.12% A small business has determined that the machinery they currently use will wear out in 17 years. To replace the new machine when it wears out, the company wants to establish a savings account today. If the interest rate on the account is 5.6% per year, interest is compounded guarterly and the cost of the machinery will be $315,000, how much will the company have to deposit today? $125,105.08$124.745.23$124,017.21$122,385.40