Question: ( Solving for i ) Kirk Van Houten, who has been married for 2 2 years , would like to buy his wife an expensive

(Solving for i) Kirk Van Houten, who has been married for 22years, would like to buy his wife an expensive diamond ring with a platinum setting on their30-year wedding anniversary. Assume that the cost of the ring will be $13,000 in 8 years. Kirk currently has $4,456 to invest. What annual rate of return must Kirk earn on his investment to accumulate enough money to pay for the ring?

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