Question: Finding the required interest rate ( Use both math formulas and Excel financial functions.) Your parents will retire in 15 years. They currently have $250,000,

Finding the required interest rate (Use both math formulas and Excel financial functions.)

Your parents will retire in 15 years. They currently have $250,000, and they think they will need $1,000,000 at retirement. What annual interest rate must they earn to reach their goal, assuming they dont save any additional funds?

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