Bill plans to retire in 27 years he currently has saved, Finance Basics

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Bill plans to retire in 27 years he currently has saved

Question: Bill plans to retire in 27 years. He currently has saved $300,00 and he believes he will need $1,000,00 at retirement. What annual interest rate must Bill earn to reach his goal assuming he does not save any additional funds between now and retirement?

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Finance Basics: Bill plans to retire in 27 years he currently has saved

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Finance Basics: Bill plans to retire in 27 years he currently has saved

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