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Solving for Interest Rate per Period Scarlett has $27,500 available today to invest for 20 years. Scarlett desires an investment fund balance of $100,000 at
Solving for Interest Rate per Period
Scarlett has $27,500 available today to invest for 20 years. Scarlett desires an investment fund balance of $100,000 at that time. What interest rate (compounded annually) must Scarlett earn to reach the desired balance in 20 years?
- Round the percentage point to two decimal points (for example, enter 60.42 for 60.42444%).
Please tell me how to use Excel and financial calculator to get the answer. Thank you very much.
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