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
Intermediate Financial Management
ISBN: 978-1285850030
12th edition
Authors: Eugene F. Brigham, Phillip R. Daves
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