Multiple Choice
Your retirement account has a current balance of $50,000.What interest rate would need to be earned in order to accumulate a total of $1,000,000 in 30 years, by adding $6,000 annually?
A) 5.02 percent
B) 7.24 percent
C) 9.80 percent
D) 10.07 percent
Correct Answer:
Verified
Correct Answer:
Verified
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