Problem

Calculating Interest Rates. Assume the total cost of a college education will be $320,000&...

Calculating Interest Rates. Assume the total cost of a college education will be $320,000"when your child enters college in 18 years. You presently have  $50,000 to invest. What annual rate of interest must you earn on your investment to cover the cost of your child’s college education?

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Solutions For Problems in Chapter 4