(Spreadsheet problem) In 24 years, you'd like to have $300,000 to buy a vacation home, but you have only $50,000. At what rate must your $50,000 be compounded annually for it to grow to $300,000 in 24 years? Use a spreadsheet to calculate your answer. The interest rate at which your $50,000 must be compounded annually is %. (Round to two decimal places.)

(Spreadsheet problem) In 24 years, you'd like to have $300,000 to buy a vacation home, but you have only $50,000. At what rate must your $50,000 be compounded annually for it to grow to $300,000 in 24 years? Use a spreadsheet to calculate your answer. The interest rate at which your $50,000 must be compounded annually is %. (Round to two decimal places.)