Finding the required interest rate

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Reference no: EM132036917

FINDING THE REQUIRED INTEREST RATE Your parents will retire in 18 years. They currently have $380,000 saved, and they think they will need $2,350,000 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.

Reference no: EM132036917

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