Multiple Choice
Conhugeco's CEO is ready to step down and wants to sock away enough money in his offshore Caribbean accounts to generate $150,000 per year for the next ten years. If he can secure a 4% interest rate from the bank, how much does he need to earmark today?
A) about $1.1 million
B) about $1.2 million
C) about $1.5 million
D) about $1.4 million
Correct Answer:
Verified
Correct Answer:
Verified
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