Question
Your parents will retire in 14 years. They currently have $125,000 saved, and they think they will need $1,700,000 at retirement. What annual interest rate
Your parents will retire in 14 years. They currently have $125,000 saved, and they think they will need $1,700,000 at retirement. What annual interest rate must they earn to reach their goal, assuming they don't save any additional funds? Answer as a percentage with 2 decimals (ex. 10.00%).
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Survey Of Economics, Principles, Applications, And Tools
Authors: Arthur O'Sullivan, Steven M. Sheffrin, Stephen J. Perez
5th Edition
0132556073, 978-0132556071
