Based on the amount that the engineer wants to have after 35 years, the interest rate that the investment should earn is 8%.
What rate should the investment earn?
This can be found using a spreadsheet. The RATE formula would apply.
Number of periods = 35 years.
Payment = 5,800
PV = 0
FV = 1,000,000
The rate would be 8.00% as shown in the attached photo.
Find out more on interest rates at https://brainly.com/question/25793394.
