Suppose the total cost of a college education will be 50 000 in-00455

Suppose the total cost of a college education will be $50,000 in 12 years for a child. The Parents have $5,000 to invest today. What rate of interest must they earn on investment to cover the cost of childs education?

This multiple choice question (MCQ) is related to the book/course vu acc501 Business Finance. It can also be found in vu acc501 Mid Term - Quiz No.22.