Question
Zack plans to retire in 25 years. He currently has saved up $200,000, and he believes he will need $1,000,000 at retirement. What annual interest
Zack plans to retire in 25 years. He currently has saved up $200,000, and he believes he will need $1,000,000 at retirement. What annual interest rate must Zack earn to reach his goal, assuming he does not save any additional funds between now and retirement?
| a. | 0.80% | |
| b. | 20.00% | |
| c. | 16.00% | |
| d. | 6.65% | |
| e. | 3.20% |
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Advanced Modelling In Mathematical Finance
Authors: Jan Kallsen, Antonis Papapantoleon
1st Edition
3319458736, 978-3319458731
