Question: Q15 Save Submit Test for Grad Question 15 01 Click here to read the eBook: Finding the Interest Rate, I FINDING THE REQUIRED INTEREST RATE

Q15

Save Submit Test for Grad Question 15 01 Click here to read the eBook: Finding the Interest Rate, I FINDING THE REQUIRED INTEREST RATE Your parents will retire in 27 years. They currently have $380,000 saved, and they think they will need $2,300,000 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. %

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