What rate of return is required to meet the goal, Finance Basics

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What rate of return is required to meet the goal

Question: Ahmed just turned 23 and wants to have $9,083 saved in 7 years, by his 30th birthday. Assuming no additional deposits, if he currently has $5,300 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?

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Finance Basics: What rate of return is required to meet the goal

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