Question: REVIEW FOR FINAL ANSWER IS: interest 7.24% Show work Explain why this is correct and how and why it is determined to be this Time

REVIEW FOR FINAL

ANSWER IS: interest 7.24%

Show work

Explain why this is correct and how and why it is determined to be this

REVIEW FOR FINAL ANSWER IS: interest 7.24% Show work Explain why this

Time Value of Money Your retirement account has a current balance of $50,000. What interest rate would need to be earned in order to accumulate a total of $1,000,000 in 30 years, by adding $6,000 annually? 27

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