Q e) Using the trial and error method and the use of an online financial calculator (FV of an ordinary annuity) I come up with a required interest rate of 11.75%.

http://www.calculatorsoup.com/calculator...

You are trying to decide how much to save for retirement. Assume you plan to save $5000 per year with the first investment made 1 year from now. You think you can earn 10% per year on your investments and you plan to retire in 43 years, immediately after making your last $5000 investment.

Question: e) Assuming the most you can afford to save is $1000 per year, but you want to retire with $1 million in your investment account, how high of a return do you need to earn on your investment?

I do not know how to find the interest rate needed to yield a future value of 1 million if I invest $1000 each year.