You want to retire in 25 years. You currently have $150,000, and think you will need $1.3million at retirement. What annual interest rate must you earn to reach your goal,assuming you don't save any additional funds? 9.02%What annual interest rate must you earn if you can contribute an additional $7,500 peryear? 5.54%What annual interest rate must you earn if you can contribute an additional $15,000 peryear? 3.69%You want to retire in 35 years. You currently have $250,000, and think you will need $2million at retirement. What annual interest rate must you earn to reach your goal,assuming you don't save any additional funds? 6.12%What annual interest rate must you earn if you can contribute an additional $5,000 peryear? 4.52%What annual interest rate must you earn if you can contribute an additional $13,000 peryear? 3.02%

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You want to retire in 25 years. You currently have $150,000, and think you will need $1.3 million at retirement. What annual interest rate must you earn to reach your goal, assuming you don't save any additional funds? 9.02% What annual interest rate must you earn if you can contribute an additional $7,500 per year? 5.54% What annual interest rate must you earn if you can contribute an additional $15,000 per year? 3.69%

You want to retire in 25 years. You currently have $150,000, and think you will need $1.3 million at retirement. What annual interest rate must you earn to reach your goal, assuming you don't save any additional funds? 9.02% What annual interest rate must you earn if you can contribute an additional $7,500 per year? 5.54% What annual interest rate must you earn if you can contribute an additional $15,000 per year? 3.69%

Corporate Fin Focused Approach

5th Edition

ISBN:9781285660516

Author:EHRHARDT

Publisher:EHRHARDT

Chapter4: Time Value Of Money

Section: Chapter Questions

Problem 34P

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