Question: 5-3 5-3 If securities or equal risk pay 5% annually! FINDING THE REQUIRED INTEREST RATE Your parents will retire in 19 years. They cur- rently

5-3

5-3 5-3 If securities or equal risk pay 5% annually! FINDING THE

5-3 If securities or equal risk pay 5% annually! FINDING THE REQUIRED INTEREST RATE Your parents will retire in 19 years. They cur- rently have $350,000 saved, and they think they will need $800,000 at retirement. What annual interest rate must they earn to reach their goal, assuming they don't save any addi- tional funds

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