You Have Currently Accumulated $50,000 for Retirement,and Are Planning to Have

question 36

Multiple Choice

You have currently accumulated $50,000 for retirement,and are planning to have $1,000,000 in 30 years when you retire.If you can add $6,000 each year,what interest rate do you require of your retirement fund?

• A) 6.17%
• B) 7.24%
• C) 9.04%
• D) 10.71%

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