Ask Experts Questions for FREE Help !
Ask
    paranee's Avatar
    paranee Posts: 5, Reputation: 1
    New Member
     
    #1

    Nov 5, 2010, 08:52 PM
    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 goal, assuming they don't save any additional funds?
    Just Looking's Avatar
    Just Looking Posts: 1,610, Reputation: 480
    Ultra Member
     
    #2

    Nov 6, 2010, 01:00 PM

    Again, the Rule of 72 can be used to calculate this.

Not your question? Ask your question View similar questions

 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Interest rate 13%, Tax rate 0% -Calculate the after tax cost of debt [ 2 Answers ]

Interest rate 13% tax rate 0%. Calculate the after tax cost of capital

Interest rate 13%, Tax rate 0% [ 1 Answers ]

Interest rate 13%, Tax rate 0%. Calculate the after tax cost of debt

Compare effective interest rate to compound rate [ 1 Answers ]

Compare effective interest rate to compound rate, with example of compound rate

Nominal Rate of Interest vs Real Interest Rate [ 1 Answers ]

I need to find for the real rate of Interest?? Nominal Rate of Interest 7.4% and Inflations is 4.5% K = k* + I + (k*x I) 7.4 = k* + 4.5% + (k* x 4.5%) I am trying to find for k*:confused: HELP>>>>


View more questions Search