Problem:
The Rabbits hope to accumulate $2,000,000 for retirement in 20 years. They do not have any money saved right now and are getting off to a late start, but they can save $10,713 annually in their 401k plan. You, unfortunately, must tell them what average rate of return they must earn on their investment to reach their goal. What is it?
Note: Explain all steps comprehensively.