Kirk Van Houten who has been married for 21 years, would like to buy his...
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Accounting
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 30-year wedding anniversary. Assume that the cost of the ring will be $10,500 in 9 years Kirk currently has $4,474 to invest.What annual rate of return must Kirk earn on his investment to accumulate enough money to pay for the ring?
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