What rate of return will dr stein need to achieve this goal

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Reference no: EM131164240

Mr. Smith has just invested $20,000 for his son (age 7).

The money will be used for his son's education 10 years from now. He calculates that he will need $70,000 for his son's education by the time the boy goes to school.

What rate of return will Dr. Stein need to achieve this goal?

Reference no: EM131164240

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