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3. Problem 5.03 (Finding the Required Interest Rate) B Book Your parents will retire in 27 years. They currently have $200,000 saved, and they
3. Problem 5.03 (Finding the Required Interest Rate) B Book Your parents will retire in 27 years. They currently have $200,000 saved, and they think they will need $950,000 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.
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Fundamentals of Corporate Finance
Authors: Stephen A. Ross, Randolph W. Westerfield, Bradford D.Jordan
8th Edition
978-0073530628, 978-0077861629
