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RATE OF RETURN. You have a retirement portfolio with a current balance of $10,000. You plan to retire 50 years from now. Each MONTH, you

RATE OF RETURN. You have a retirement portfolio with a current balance of $10,000. You plan to retire 50 years from now. Each MONTH, you plan to invest $100 into the portfolio until you retire. Calculate your rate of return, r, if you desire to have $2 million in your portfolio upon retirement. Remember to annualize your rate of return after calculation.

1.096%

9.59%

13.15%

14.32%

None of the above

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