Question
15. You would like to have a balance of $600,000 at the end of 15 years from monthly savings of $900. If your returns are
15. You would like to have a balance of $600,000 at the end of 15 years from monthly savings of $900. If your returns are compounded monthly, what is the APR you need to meet your goal?
Enter your response as a regular percentage rate, rounded to the nearest first decimal. Do not enter dollar signs, percent signs, or commas.
For example, if you calculated the decimal 0.0489, you would enter for your answer, 4.9. Or if you calculated 12.56%, you would enter 12.6.
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Foundations of Finance The Logic and Practice of Financial Management
Authors: Arthur J. Keown, John D. Martin, J. William Petty
8th edition
132994879, 978-0132994873
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