Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. your parents will retire in 22 years. they current

Your parents will retire in 22 years. They currently have $280,000 saved, and they think...

70.2K

Verified Solution

Question

Finance

Your parents will retire in 22 years. They currently have $280,000 saved, and they think they will need $1,500,000 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.

%

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Statistics
1.2K views

-A consumer organization inspecting new cars found that many had appearance defects​ (dents, scratches, paint​ chips,...

Economics
1.2K views

Exercise 2: i. Why is the Value-Added Method used as an alternative method to calculate GDP? ii. What...

Physics
1.2K views

detailed solutions/equations for both*** Part 1 Five electrons are in a two-dimensional square potential energy well with sides...

General Management
1.2K views

In this week's Module, Chapter 2 discusses the 5 Industry Life Cycle Stages (Start-up, Rapid Growth,...

Biology
1.2K views

Lightly stained regions of chromatin and darkly stained regions of chromatin are respectively known as:(A)...

Biology
1.2K views

I have taken four good professors at this college Mr Smith Mrs Ortiz Dr Willard...

Physics
1.2K views

Assertion Two large conducting spheres carrying charges Q1 and Q2 are brought close to each...

Physics
1.2K views

PASSAGE Consider a resistance of 2002 an inductance of 0 2 H and a capacitance...

Physics
1.2K views

Won t there be potential difference due to 3V battery acr ss the capacitor 14...

Accounting
1.2K views

Please show all calculations. 9. In 2019. Perla earned $10,000 in net investment income...

Accounting
1.2K views

the last entry of general journal please On January 1, 2015, Surreal Manufacturing...

Accounting
1.2K views

What is the essence of the business case for why a company should engage in...