You want to buy a car in $5$ years. To do so you need a down payment of $$10,000.$ You only have $$3,500$ in the bank now. $$

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What is the minimum annualized rate of return required for you to have the $$10,000$ down payment in five years?$$

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You want to buy a car in $5$ years. To do so you need a down payment of $$10,000.$ You only have $$3,500$ in the bank now. $$

$$

What is the minimum annualized rate of return required for you to have the $$10,000$ down payment in five years?$$

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$10\mathrm{.}0\%$

$14\mathrm{.}9\%$

$23\mathrm{.}4\%$