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Question: 1 pt Related to Checkpoint 5.8) (Solving for Kirk Van Houten, who has been...

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Question: 1 pt Related to Checkpoint 5.8) (Solving for Kirk Van Houten, who has been married for 23 years, would like to buy his wife an expensive diamond ring with a platinum seting on their 30-year wedding anniversary. Assume that the cost of the ring will be $12,000 in 7 years. Kirk currently has $4,401 to invest. What annual rate of retum must Koirk eam on his investment to accumulate enough money to pay for the ring? The annual rate of returm Kirk must earn on his investment to accumulate enough money to pay for the fings (Round to two decimal places) I Th OF ES. 8

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