Question
Problem 5-3 Finding the required interest rate Your parents will retire in 16 years. They currently have $360,000 saved, and they think they will need
Problem 5-3 Finding the required interest rate Your parents will retire in 16 years. They currently have $360,000 saved, and they think they will need $1,500,000 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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Financial Management Principles And Practices
Authors: Timothy J. Gallagher
9th Edition
1954156103, 978-1954156104
