You want to retire in 25 years. You currently have $200,000 saved and you believe you need $1,200.000 at retirement. What annual interest rate will you need to earn to meet your goal?

Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter11: Capital Budgeting Decisions
Section: Chapter Questions
Problem 9EB: If you invest $15,000 today, how much will you have in (for further instructions on future value in...
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You want to retire in 25 years. You currently have $200,000 saved and you believe you need $1,200,000 at retirement. What annual interest rate will you need to earn to meet your goal?
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Transcribed Image Text:You want to retire in 25 years. You currently have $200,000 saved and you believe you need $1,200,000 at retirement. What annual interest rate will you need to earn to meet your goal? A Moving to another question will save this response. < Question 3 of 25 7:37 P ch 4/4/20 |查
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