Question
You plan to retire in 25 years. You currently have $50,000 saved, and you think you will need $800,000 at retirement. What annual interest rate
You plan to retire in 25 years. You currently have $50,000 saved, and you think you will need $800,000 at retirement. What annual interest rate must you earn to reach your goal, assuming you dont save any additional funds? (assume annual compounding)
| 7.61% | ||
| 11.73% | ||
| 6.25% | ||
| 5.70% | ||
| 0.25% | ||
| 3.73% |
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Multinational Business Finance
Authors: David K. Eiteman, Arthur I. Stonehill, Michael H. Moffett
6th Edition
0201538997, 978-0201538991
