Question: 6. Problem 5.03 (Finding the Required Interest Rate) eBook Your parents will retire in 19 years. They currently have $320,000 saved, and they think they

think they will need $1,300,000 at retirement What annual interest rate must

6. Problem 5.03 (Finding the Required Interest Rate) eBook Your parents will retire in 19 years. They currently have $320,000 saved, and they think they will need $1,300,000 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. 10. Problem 5.16 (Present Value of a Perpetuity) eBook What is the present value of a $300 perpetuity if the interest rate is 7%? If interest rates doubled to 14%, what would its present value be? Round your answers to the nearest cent. Present value at 7%: Present value at 149: $ 11. Problem 5.17 (Effective Interest Rate) eBook You borrow $70,000; the annual loan payments are $4,553.60 for 30 years. What interest rate are you being charged? Round your answer to the nearest whole number

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