What rate of return is required to meet his goal

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Reference no: EM13294813

Ahmed Mustafa just turned 22 and wants to have $10,283 saved in 8 years by his thirtieth birthday. Assuming no additional deposits, if he currently has $6,000 in an intermediate-term bond fund earning a 5 percent yield, will he reach his goal? If not, what rate of return is required to meet his goal?

Reference no: EM13294813

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