Assume the Total Cost of a College Education Will Be

question 30

Multiple Choice

Assume the total cost of a college education will be $300,000 when your child enters college in 16 years.You presently have $75,561 to invest.What rate of interest must you earn on your investment to cover the cost of your child's college education?

• A)7.75 percent
• B)8.50 percent
• C)9.00 percent
• D)9.25 percent
• E)9.50 percent

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