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Your parents will retire is 15 years. They currently have $20,000, and they think they will need $200,000 at retirement. What annual interest rate must
Your parents will retire is 15 years. They currently have $20,000, and they think they will need $200,000 at retirement. What annual interest rate must they earn to reach their goal. assuming they don't save any additional funds? I do not have a financial calculator, so I need each step. This is what I have so far: N=15 IR=___ PV= 20,000 Pmnt=0 FV= $200,000 pv* (1+i)^18=fv 20,000*(1+i)^18=$200,000 (1+i)^18=$200000/20,000 (1+i)^18=10
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