Question: 3. Problem 5.03 (Finding the Required Interest Rate) B Book Your parents will retire in 27 years. They currently have $200,000 saved, and they

3. Problem 5.03 (Finding the Required Interest Rate) B Book Your parents

3. Problem 5.03 (Finding the Required Interest Rate) B Book Your parents will retire in 27 years. They currently have $200,000 saved, and they think they will need $950,000 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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