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Kirk Van​ Houten

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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 ​$10,847 in 9 years. Kirk currently has ​$4600 to invest. What annual rate of return must Kirk earn on his investment to accumulate enough money to pay for the​ ring? The annual rate of return Kirk must earn on his investment is ___ ​%.

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