g Cindy Houston has a $27,600 debt that she wishes to repay 4 years from today; she has $19,553 that she intends to invest for the 4 years. What rate of interest will she need to earn annually in order to accumulate enough to pay the debt

9%

Explanation:

Data provided in the question

Future value = $27,600

Present value = $19,533

Time period = 4 years

So the rate of interest is

Future value = Present value * (1 + interest rate) ^number of years

$27,600 = $19,533 * (1 + interest rate) ^4 years

$27,600 : $19,533 = (1 + interest rate) ^4 years

$ 1.411548 = (1 + interest rate) ^4 years

After solving this

So, the interest rate is 9%