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10 May, 07:12

How long would it take for you to save an adequate amount for retirement if you deposit $40,000 per year into an account beginning one year from today that pays 12 percent per year if you wish to have a total of $1,000,000 at retirement?

A. 10.2 years

B. 10.5 years

C. 14.8 years

D. 11.5 years

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Answers (1)
  1. 10 May, 08:02
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    Answer:14.8 years!
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