d. You just received an inheritance worth $150,000. You want to retire in 25 years and you plan to contribute an additional $15,000 at the end of each year. If you need $1,500,000 in order to retire, what interest rate must you earn in order to reach your goal?

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A: given, pv =$333,000 n= 27 years n= 8.99%

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A: Present value= Annual cash flows / Discounting rate= 96666.666666666666667= 96666.67 Approx

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Q: Vijay

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Q: , how much accumulated savings and investments would you need/

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