Question
Your parents will retire in 17 years. They currently have $200,000, and they think they will need $1 million at retirement. What annual interest rate
Your parents will retire in 17 years. They currently have $200,000, and they think they will need $1 million at retirement. What annual interest rate must they earn to reach their goal, assuming they don't save any additional funds? Round your answer to two decimal places.
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Introduction To Finance Markets, Investments, And Financial Management
Authors: Ronald W. Melicher, Edgar A. Norton
17th Edition
1119561175, 978-1119561170
