Question
Your parents will retire in 20 years. They currently have $230,000 saved, and they think they will need $2,350,000 at retirement. What annual interest rate
Your parents will retire in 20 years. They currently have $230,000 saved, and they think they will need $2,350,000 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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Financial Risk Manager Handbook
Authors: Philippe Jorion
6th Edition
0470904011, 978-0470904015
