Question: Please solve using formulas or BA II calculator steps. Assume the total cost of a college education will be $325,000 when your child enters college

Please solve using formulas or BA II calculator steps.

Please solve using formulas or BA II calculator steps. Assume the total

Assume the total cost of a college education will be $325,000 when your child enters college in 16 years. You presently have $40,000 to invest and do not plan to invest anything further. What annual rate of interest must you earn on your investment to cover the entire cost of your child's college education? 12.65% 10.40% 11.08% 14.62% 13.99%

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