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Mr. Perez and Mrs. Perez are both 42 years of age and will retire at age 66. Mr. Perez has $150.000 in his savings account,
- Mr. Perez and Mrs. Perez are both 42 years of age and will retire at age 66. Mr. Perez has $150.000 in his savings account, and Mrs. Perez has $125.000 in her savings account. They agree that they will need $700,000 at retirement. They agree to use 50% of Mr. Perez's savings and 100% of Mrs. Perez's savings. What annual interest rate must they earn to reach their goal?
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2023 Edition
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