Question: Back to Assignment ttempts 0 Keep the Highest 0 1 Problem 5 . 0 3 ( Finding the Required Interest Rate ) Your parents will

Back to Assignment

ttempts

0

Keep the Highest

\frac{0}{1}

Problem

5.03 (

Finding the Required Interest Rate

)

Your parents will retire in

20

years. They currently have $

220, 000

saved, and they think they will need $

1, 050, 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.

1 %

Continue without saving

Back to Assignment ttempts 0 Keep the Highest 01 Problem 5.03(Finding

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