Question: 3-1 MyFinanceLab Assignment Question 7, P5-16 (simil... X Points: 0 of 3 5.6) (Solving for i) Kirk Van Houten, who has been married for 22

3-1 MyFinanceLab Assignment Question 7, P5-16 (simil... X Points: 0 of

3-1 MyFinanceLab Assignment Question 7, P5-16 (simil... X Points: 0 of 3 5.6) (Solving for i) Kirk Van Houten, who has been married for 22 years, would like to buy his wife an expensive diamond ring with a platinum setting on their 30-year wedding anniversary. Assume that the cost of the ring will be $11,500 in 8 years. Kirk currently has $4,431 to invest What annual am on his investment to accumulate enough money to pay for the ring? Kirk must earn on his investment to accumulate enough money to pay for the ring is 13%. (Round to two decimal places)

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