U.S Census Bureau statistics show that the annual earnings for a person with a high-school diploma are $35,220 versus $57,925 for someone with a bachelors degree. If the cost of attending college is assumed to be $30,000 per year for four years and the foregone earnings during those years is assumed to be $35,220 per year, what rate of return does earning a bachelors degree represent, if a 35-year study period is considered? (Hint: The investment in years 1 through 4 is the cost of college plus the foregone earnings, and the income in years 5 through 35 is the difference in income between a high-school diploma and a bachelors degree.)

How would you show using excel formulas?