Multiple Choice
Tom Watson promises to deposit a sum of $100,000 for his granddaughter's college education 18 years from now. If he invests $20,000 today, what should be return on investment he should get to be able keep up the promise? Assume interest is compounded yearly.
A) 9.35%
B) 8.52%
C) 10.04%
D) 7.65%
Correct Answer:
Verified
Correct Answer:
Verified
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