Question: You can solve for the i and n variable in addition to FV and PV. Read Section 5-4 Finding the Interest Rate Your parents will

You can solve for the i and n variable in addition to FV and PV. Read Section 5-4 Finding the Interest Rate

Your parents will retire in 20 years. They currently have $100,000 saved, and they think they will need $500,000 at retirement. What annual interest rate must they earn to reach their goal, assuming they dont save any additional funds? Assume annual compounding

(remember the rule about where to use a negative sign in the calculator- otherwise you will see an ERROR)

		8.38
		5.00%
		10.04
		8.82

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