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Your parents will retire in 17 years. They currently have $345,000, and they think they will need $1,500,000 at retirement. What annual interest rate must

Your parents will retire in 17 years. They currently have $345,000, and they think they will need $1,500,000 at retirement. What annual interest rate must they earn to reach their goal, assuming they dont save any additional funds?image text in transcribed

Question 7 1 pts Your parents will retire in 17 years. They currently have $345,000, and they think they will need $1,500,000 at retirement. What annual interest rate must they earn to reach their goal, assuming they don't save any additional funds? 8.00% 11.05% 10.45% 7.25% 9.03%

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