Suppose you would like to retire in 50 years as a millionaire. If you have $7,500 today, what rate of return must you earn on $7,500 to achieve your goal
7500(1+r)^50 = 1000000
(1+r)^50 = 400/3
take 50th root of both sides
1+r = 1.1028..
r = .1028
= appr 10.28%
Good luck!