A portfolio with a current value of $1,235,000 is required to grow to $2,000,000 in 18 years with annual withdrawls of $26,000. What is the required rate of return to meet the objective of $2,000,000. Can someone please work the rate of return and show/ describe to arrive at the answer.
4.43%?
by HP12C PV=-1,235,000, FV=2,000,000, n=18, PMT=26,000 then, i=4.43%
thanks