You have $44,642.86 right now, and you need to have $173,604.23 in 14 years in order to buy a house. What rate of return do you need to get on your money in order to have enough at the end of the 14-th year? (Answer in percent, round to two decimal points. ie if your answer is 1% then write "1.00" in the space)

Answer rating: 100% (QA)

We can use the formula for the future value of a lump sum to c... View the full answer