Question: Question 10 (updated) 10. Problem 5.03 (Finding the Required Interest Rate) Your parents wiil retire in 23 years. They currently tove $260,000 saved, and they

Question 10 (updated)

10. Problem 5.03 (Finding the Required Interest Rate) Your parents wiil retire in 23 years. They currently tove $260,000 saved, and they think they will need $2,350,000 at retiremenc. What annual interest rate must they earn to reach ther goal, ansuming they dont save any additional funds? Round your answer to two decimal places

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