Calculating interest rates
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Calculating Interest Rates. Assume the total cost of a college education will be
$300,000 when your child enters college in 18 years. You presently have $40,000 to
invest. What annual rate of interest must you earn on your investment to cover the
cost of your child's college education?
Calculating the Number of Periods. At 9 percent interest, how long does it take
to double your money? To quadruple it?
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Calculating interest rates is achieved in the solution.
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