Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

What annual interest rate would you need to earn if you wanted a $1,000 per month contribution to grow to $84,000 in six years? (

What annual interest rate would you need to earn if you wanted a $1,000 per month contribution to grow to $84,000 in six years? (Do not round intermediate calculations and round your final answer to 2 decimal places.)

Annual interest rate %

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Forecasting Revenue And Expenses For Small Business Using Statistical Analytics

Authors: Eleanor Winslow

1st Edition

0578797259, 978-0578797250

More Books

Students also viewed these Finance questions