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What annual rate of return must kirk earn

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Question - 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 307year wedding anniversary Assume that the cost of the ring will be $10000 in 9 years Kirk currently has $4,499 to invest. What annual rate of return must Kirk earn on his investment to accumulate enough money to pay for the ring?

Reference no: EM133104793

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