What annual rate of return are required


Problem

In 18 year(s) from now, you are planning a trip to Machu Picchu and estimated that you will need 54435 SEK to be able to make the trip. If you deposit 5448 SEK today, what annual rate of return are required for you to be able to make the trip. I.e. what annual rate of return are required for 5448 SEK to grow to 54435 SEK in 18 year(s).

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Financial Accounting: What annual rate of return are required
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