Bob believes he can save $175,000 to use when his son begins college in 12 years. Assume

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Bob believes he can save $175,000 to use when his son begins college in 12 years. Assume Bob currently has no savings. If he saves $1,000 per month, what is the estimated annual investment rate needed (round your answer)?

Related Book For answer-question

Intermediate Financial Management

ISBN: 978-1285850030

12th edition

Authors: Eugene F. Brigham, Phillip R. Daves

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Posted Date: Apr 18, 2024 02:58 AM

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Bob believes he can save $175,000 to use when his son begins college in 12 years. Assume

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Intermediate Financial Management

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