Question
1. Your parents will retire in 25 years. They currently have $210,000 saved, and they think they will need $1,300,000 at retirement. What annual interest
1. Your parents will retire in 25 years. They currently have $210,000 saved, and they think they will need $1,300,000 at retirement. What annual interest rate must they earn to reach their goal, assuming they don't save any additional funds? Round your answer to two decimal places.
2.You have $12,725.01 in a brokerage account, and you plan to deposit an additional $4,000 at the end of every future year until your account totals $230,000. You expect to earn 14% annually on the account. How many years will it take to reach your goal? Round your answer to the nearest whole number.
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