Question: I need help finding the formula for interest rate. simple formula and excel please. WN ona Assume the total cost of a college education will

I need help finding the formula for interest rate. simple formula and excel please.

WN ona Assume the total cost of a college education will be $325,000 when your child enters college in 18 years. You presently have $85,000 to invest. What annual rate of interest must you earn on your investment to cover 2 the cost of your child's college education? 3 4 Input area: 5 Future value $325,000 Years 18 8 Present value $85,000 9 10 (Use cells A6 to B8 from the given information to complete this question.) 11 12 Output area: 13 14 Interest rate 15 16

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