You have a child who will start college in 16 years, and you plan to set aside $1,000 a year for her college education during that period. You estimate that you will earn an annual interest rate of 8% on your investment. What amount can you expect to have available for your child when they start college? You plan to deposit $350 each year into an IRA earning 8% interest annually. How much will you have in your account in 20 years? Your Answer: You have $64,000 in your account that you want to grow to triple that amount in 40 years. What annual rate of return is necessary to reach your goal? (Note: Enter your answer is a decimal, not a percentage. For example, enter 0452 instead of 4.52%)