Finding interest rates and lump sum to double

Assignment Help Financial Management

Reference no: EM131313288

Finding Interest Rates & Lump Sum to Double

a. Your parents will retire in 26 years. They currently have $290,000 saved, and they think they will need $1,700,000 at retirement. What annual interest rate must they earn to reach their goal, assuming they don't save any additional funds? Round your answer to two decimal places. ______%

b.If you deposit money today in an account that pays 9% annual interest, how long will it take to double your money? Round your answer to two decimal places. _________ years.

Reference no: EM131313288

Questions Cloud

Why is culture so important to an organization : Why is culture so important to an organization? Can you think of examples of a great organizational culture? How about terrible organizational cultures? How are these reflected?

What is reynolds current debt ratio : Reynolds Construction needs a piece of equipment that costs $200. Reynolds either can lease the equipment or borrow $200 from a local bank and buy the equipment. If the equipment is leased, the lease would not have to be capitalized. What would be th..

Explain the one change in agriculture policy : Give 2 specific examples of how the Farm Bill can be changed/has recently been changed to reduce exposure totoxic substances and pesticides. Explain the one change in agriculture policy you think would result in the biggest health improvements

Determine the number of the last person left in the circle : Write a program that allows you to place n people in a circle and specify that every mth person will be killed. The program should determine the number of the last person left in the circle. Use a circularly linked list to solve the problem.

Finding interest rates and lump sum to double : Finding Interest Rates & Lump Sum to Double. Your parents will retire in 26 years. They currently have $290,000 saved, and they think they will need $1,700,000 at retirement. What annual interest rate must they earn to reach their goal, assuming they..

Discuss advantages and disadvantages of job order costing : Discuss the advantages and disadvantages of Job Order Costing. Be sure to include specific examples of the advantages/disadvantages that you discuss. 150 words.

Why must firms adopt the identified roles : In general, identify senior management's specific role in these large-scale strategic quality programs? Cheerleader? Role model? Decision maker? Resource provider? What else?Why must firms adopt the identified roles? What is the risk of not using t..

What is an alternative name for structured insurance : What is meant by "structured insurance"?- What is an alternative name for structured insurance? - Give two examples of structured insurance.

Design and implement a toarray method : Design and implement a ToArray method for the LinkedList class that takes a linked-list instance and returns an array.

User Account

All Pages