Joe plans to retire in 15 years he currently has saved up, Ask an Expert

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Joe plans to retire in 15 years. He currently has saved up $100,000, and he believes he will need $1,000,000 at retirement. What annual interest rate must Joe earn to reach his goal, assuming he does not save any additional funds between now and retirement?

a. 6.00%

b. 60.00%

c. 10.00%

d. 16.59%

e 0.67%

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92264847

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