$($Related to Checkpoint$5\mathrm{.}6)($Solving for

i$)$

Puck Van HoutenPuck$$Van$$Houten$,$

who has been married for

$2323$

$$years$,$ would like to buy their partner an expensive diamond ring with a platinum setting on their$30-$year wedding anniversary. Assume that the cost of the ring will be

$$$$12$ comma $50012,500$

in

$77$

years.

PuckPuck

currently has

$$$$4$ comma $5334,533$

to invest. What annual rate of return must

PuckPuck

earn on their investment to accumulate enough money to pay for the$$ ring?

Question content area bottom

Part $1$

The annual rate of return

PuckPuck

must earn on their investment to accumulate enough money to pay for the ring is

$15\mathrm{.}9915\mathrm{.}99\%.$

$($Round to two decimal$$ places.$)$