Question: Check My Work (5 remaining) Click here to read the eBook: Finding the Interest Rate, I FINDING THE REQUIRED INTEREST RATE Your parents will retire

Check My Work (5 remaining) Click here to read the eBook:

Check My Work (5 remaining) Click here to read the eBook: Finding the Interest Rate, I FINDING THE REQUIRED INTEREST RATE Your parents will retire in 16 years. They currently have $360,000 saved, and they think they will need $2,500,000 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. % o o Check My Work (5 remaining) O=Icon Key Problem 5.03

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