(Related to Checkpoint 5.6) (Solving for i ) Kirk Van Houten, who has been married for 21 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 $13,000 in 9 years. Kirk currently has $4,458 to invest. What annual rate of return must Kirk earn on his investment to accumulate enough money to pay for the ring? The annual rate of retum Kirk must earn on his investment to accumulate enough money to pay for the ring is %. (Round to two decimal places.) (Related to Checkpoint 5.6) (Solving for i ) You are considering investing in a security that will pay you $4,000 in 28 yea a. If the appropriate discount rate is 12 percent, what is the present value of this investment? b. Assume these investments sell for $2,229 in return for which you receive $4,000 in 28 years. What is the rate of return investors earn on this investment if they buy it for $2,229? (Related to Checkpoint 5.5) (Solving for n ) Jack asked Jill to marry him, and she has accepted under one condition: Jack must buy her a new $350,000 Rolls-Royce Phantom. Jack currently has $66,610 that he may invest. He has found a mutual fund with an expected annual return of 4 percent in which he will place the money. How long will it take Jack to win Jill's hand in marriage? Ignore taxes and inflation. (Related to Checkpoint 5.6) (Solving for i ) You lend a friend $10,000, for which your friend will repay you $27,027 at the end of 5 years. What interest rate are you charging your "friend