Rate of Return Required
What is the interest rate required to have $10,000 in 10 years with monthly deposits of $50.00 per month?
Use the following values for the prompts:
Prompt 
Value 

Calculation Type 
Accumulation 

Calculate 
Interest Rate 

Current Account Value 
0 

Number of Years 
10 

Amount of Each Deposit 
$50 

Type of Deposits 
Level Deposits 

Deposits per Year 
12 

Deposits Made at 
End of Period 

Projected Value 
$10,000 
The Calculated Interest Rate shows 9.8629%.