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Brianna is saving $18,000 per year and wants to have $1,000,000 when she retires in 30...

  1. Brianna is saving $18,000 per year and wants to have $1,000,000 when she retires in 30 years. What interest rate will she need to earn?
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Answer #1

Here,Principal Ampount=$18000

Final Amount=$1000000

Time=30 (years)

Simple Interest=(Pricipal*rate*time)/100

So the rate is 181.85%

(Calculations is attached below)

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