What annual interest rate must they earn to reach goal

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Reference no: EM132014743

FINDING THE REQUIRED INTEREST RATE

Your parents will retire in 28 years. They currently have $320,000 saved, and they think they will need $2,200,000 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: EM132014743

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