Today,you turn 23.Your birthday wish is that you will be a millionaire by your 40^th birthday.In an attempt to reach this goal,you decide to save $75 a day,every day until you turn 40.You open an investment account and deposit your first $75 today.What rate of return must you earn to achieve your goal?

Question

Quizplus · Accepted Answer

This cannot be solved directly, so it's easiest to just use the calculator method to get an answer. You can then use the calculator answer as the rate in the formula just to verify that your answer is correct.

Today,you Turn 23