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    paranee's Avatar
    paranee Posts: 5, Reputation: 1
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    #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
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    #2

    Nov 6, 2010, 01:00 PM

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