Ahmed just turned 21 and wants to have $12,163 saved in 9 years, by his...
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Ahmed just turned 21 and wants to have $12,163 saved in 9 years, by his 30th birthday. Assuming no additional deposits, if he currently has $5,600 in an intermediate-term bond fund earning a 6 percent yield, will he reach his goal? If not, what rate of return is required to meet his goal?.
Assuming no additional deposits, if he currently has $5,600 in an intermediate-term bond fund earning a 6 percent yield, will he reach his goal?(Select the best choice below.)
A. Yes, Ahmed will reach his goal of having $12,163 by his 30th birthday.
B. No, Ahmed will not reach his goal of having $12,163 by his 30th birthday.
The rate of return required to meet his goal is ? %. (Round to the nearest integer.)
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