Time Value of Money $(50$ points total$)$

$(10$ points.$)$

Assume the cost of retiring will be $$5,000,000$ in $50$ years. You currently

have $$50,000$ to invest. What annual rate of interest must you earn on your $$50,000$ to

cover the $$5,000,000$ cost in $50$ years? $($Write down what you enter in your calculator

below.$)$