Question

Your parents will retire in 21 years. They currently have $290,000 saved, and they think they...

Your parents will retire in 21 years. They currently have $290,000 saved, and they think they will need $1,450,000 at retirement. What annual interest rate must they earn to reach their goal, assuming they don't save any additional funds? Round your answer to two decimal places.

= %?
Business   Finance   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Your parents will retire in 28 years. They currently have $260,000 saved, and they think they...
Your parents will retire in 28 years. They currently have $260,000 saved, and they think they will need $2,500,000 at retirement. What annual interest rate must they earn to reach their goal, assuming they don't save any additional funds? Round your answer to two decimal places
Your parents will retire in 30 years. They currently have $300,000 saved, and they think they...
Your parents will retire in 30 years. They currently have $300,000 saved, and they think they will need $2,000,000 at retirement. What annual interest rate must they earn to reach their goal, assuming they don't save any additional funds? Round your answer to two decimal places.
Your parents will retire in 23 years. They currently have $250,000 saved, and they think they...
Your parents will retire in 23 years. They currently have $250,000 saved, and they think they will need $1,150,000 at retirement. What annual interest rate must they earn to reach their goal, assuming they don't save any additional funds? Round your answer to two decimal places.
Your parents will retire in 18 years. They currently have $270,000 saved, and they think they...
Your parents will retire in 18 years. They currently have $270,000 saved, and they think they will need $1,050,000 at retirement. What annual interest rate must they earn to reach their goal, assuming they don't save any additional funds?
Your parents will retire in 27 years. They currently have $390,000 saved, and they think they...
Your parents will retire in 27 years. They currently have $390,000 saved, and they think they will need $1,950,000 at retirement. What annual interest rate must they earn to reach their goal, assuming they don't save any additional funds? Round your answer to two decimal places.    You have $20,883.76 in a brokerage account, and you plan to deposit an additional $5,000 at the end of every future year until your account totals $290,000. You expect to earn 13% annually...
Your parents will retire in 20 years. They currently have $250,000 saved, and they think they...
Your parents will retire in 20 years. They currently have $250,000 saved, and they think they will need $1,000,000 at retirement. What annual interest rate must they earn to reach their goal, assuming they don’t save any additional funds? a. 6.50% b. 7.18% c. 8.32% d. 9.76% e. 10.50%
FINDING THE REQUIRED INTEREST RATE Your parents will retire in 17 years. They currently have $380,000...
FINDING THE REQUIRED INTEREST RATE Your parents will retire in 17 years. They currently have $380,000 saved, and they think they will need $1,950,000 at retirement. What annual interest rate must they earn to reach their goal, assuming they don't save any additional funds? Round your answer to two decimal places. %
1. Your parents will retire in 27 years. They currently have $320,000 saved, and they think...
1. Your parents will retire in 27 years. They currently have $320,000 saved, and they think they will need $1,150,000 at retirement. What annual interest rate must they earn to reach their goal, assuming they don't save any additional funds? Round your answer to two decimal places. 2. If you deposit money today in an account that pays 14% annual interest, how long will it take to double your money? Round your answer to two decimal places. 3. You have...
1.) FINDING THE REQUIRED INTEREST RATEYour parents will retire in 20 years. They currently have $260,000...
1.) FINDING THE REQUIRED INTEREST RATEYour parents will retire in 20 years. They currently have $260,000 saved, and they think they will need $900,000 at retirement. What annual interest rate must they earn to reach their goal, assuming they don't save any additional funds? Round to TWO decimal places.   2.) TIME TO REACH A FINANCIAL GOAL You have $51,238.94 in a brokerage account, and you plan to deposit an additional $4,000 at the end of every future year until your...
2. What is the present value of a security that will pay $13,000 in 20 years...
2. What is the present value of a security that will pay $13,000 in 20 years if securities of equal risk pay 12% annually? Round your answer to the nearest cent. 3. Your parents will retire in 27 years. They currently have $400,000 saved, and they think they will need $1,700,000 at retirement. What annual interest rate must they earn to reach their goal, assuming they don't save any additional funds? Round your answer to two decimal places.
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT