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If you deposit $11,377 dollars into a savings account, what interest would you need to be earning to have $17,964 dollars in the same account
If you deposit $11,377 dollars into a savings account, what interest would you need to be earning to have $17,964 dollars in the same account 7 years later? Answer as a percent and to the nearest hundredth of a percent as in xx.xx % and enter without the percent sign. Hint: You can set this up as an IRR problem in Excel but since there are only two cash flows you can also use algebra to solve for the interest rate directly.
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