We would like to have $1,000,000 in 10 years. We have $700,000 now in an account. We
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Question:
We would like to have $1,000,000 in 10 years. We have $700,000 now in an account. We are withdrawing $100,000 a year from the account at the beginning of each year. What annual interest rate would we need to achieve our goal?
Please show excel work
Expert Answer:
To calculate the required annual interest rate in Excel you can use the following steps 1 In cell A1 ... View the full answer
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