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Answer the question below. It is important that you show your work. Either type the formula used or your inputs (PN, N, etc.) After getting
Answer the question below. It is important that you show your work. Either type the formula used or your inputs (PN, N, etc.) After getting married, Tamara decided that she and her husband needed to start doing serious retirement planning. She determined that they will need $1,000,000 in 25 years to live a comfortable life. If Tamara and her husband have $100,000 currently saved, whatrate of return must they earn, on an annual basis, to meet their goal? (Hint: When doing a problem that has a PV and a FV value, one must be entered as a negative to represent a cash outflow. If one is not entered as a negative you will get an error. So, when solving for Nor I, in most cases, you will have to make PV or PMT a negative value. See calculator example on page 2-26). 5 points
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