Finding the required interest rate

Assignment Help Business Economics

Reference no: EM13978936

Finding the required interest rate Your parents will retire in 15 years. They currently have $270,000, and they think they will need $850,000 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: EM13978936

Questions Cloud

Future value-annuity versus annuity due : Future value: annuity versus annuity due, What's the future value of a 10%, 5-year ordinary annuity that pays $800 each year? Round your answer to the nearest cent.

Biology genetics questions : Biology genetics questions

How globlisation benefits developing nations : Share your definition of globalizaion and whether or not it has more merits or demerits. Discuss, for example, how it benefits developing nations-

Describe the seven steps of the scientific method : Three hypotheses-ecocide, rat outbreak, and climate change-are candidates as explanations of why the society of Easter Island collapsed. In a paragraph, describe the seven steps of the scientific method

Finding the required interest rate : Finding the required interest rate Your parents will retire in 15 years. They currently have $270,000, and they think they will need $850,000 at retirement. What annual interest rate must they earn to reach their goal, assuming they don't save any ad..

How would you go about ensuring existence of fixed assets : Fin:08 - Discussion How would you go about ensuring the existence of all fixed assets, and that they are accounted for properly on the books of the company?

The purpose of the federal reserve is to : The purpose of the federal reserve is to

What is the bonds yield to maturity : Consider a coupon bond that has a par value of $1,200 and a coupon rate of 5 %. The bond is currently selling for $1,200.00 and has 2 years to maturity. What is the bond's yield to maturity (YTM)? What is the Yield to Maturity?

List five thin film compositions that can deposited by ald : Which of the three variables above currently limits the EQE of quantum dot-based LEDs to about 1%? Why are all-inorganic devices desirable rather than hybrid organic-inorganic devices?

User Account

All Pages