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Suppose you want to retire 30 years from now and have investments worth $2.5 million at that time. Today, you have $211 in your investment
Suppose you want to retire 30 years from now and have investments worth $2.5 million at that time. Today, you have $211 in your investment account and plan on adding an additional $10,000 to that account each year. What annual rate of return must you earn on average to achieve this goal?
A.12.17 percent
B.12.76 percent
C.12.49 percent
D.11.83 percent
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