1. Finding the required interest rate. Your parents will retire in 18 years. They currently have $250,000, and they think they will need $1,000,000 at retirement. What annual interest rate must they earn to reach their gold, assuming they dont save any additional funds.

1. Finding the required interest rate. Your parents will retire in 18 years. They currently have $250,000, and they think they will need $1,000,000 at retirement. What annual interest rate must…

 

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