Jared is a sales manager at a large company where employees use several cloud apps such as salesforce and Google Apps. The company decided to use these apps instead of purchasing apps that would run from their own servers, reducing the cost and complexity associated with their use. Apps like these are known as:

Assume the total cost of a college education will be $250,000 when your child enters college in 17 years. you presently have $69,000 to invest. what annual rate of interest must you earn on your investment to cover the cost of your child’s college education? (do not round intermediate calculations. enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)