Cole needs $470,000 in his retirement account to generate a retirement income of $2,350 per month when he retires in 30 years. He has $50,000 to invest today. What simple interest rate does he need to achieve his target of $470,000?
Round your answer to the nearest whole percent.
__________ %

Question

Cole needs $470,000 in his retirement account to generate a retirement income of $2,350 per month when he retires in 30 years. He has $50,000 to invest today. What simple interest rate does he need to achieve his target of $470,000? 
Round your answer to the nearest whole percent. 
__________ %

Quizplus · Accepted Answer

The Answer of Cole needs $470,000 in his retirement account to generate a retirement income of $2,350 per month when he retires in 30 years. He has $50,000 to invest today. What simple interest rate does he need to achieve his target of $470,000? 
Round your answer to the nearest whole percent. 
__________ %

Cole Needs $470,000 in His Retirement Account to Generate a Retirement