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You Have Currently Accumulated $50,000 Thus Far for Your Retirement

Question 27

Multiple Choice

You have currently accumulated $50,000 thus far for your retirement, and are planning to have $1,000,000 in 30 years when you retire.If you can add $6,000 each year to your retirement fund, what interest rate do you need to have in order to achieve your retirement goal?


A) 6.17%
B) 7.24%
C) 9.04%
D) 10.71%

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