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John Would Like to Save $1,500,000 by the Time He

Question 31

Multiple Choice

John would like to save $1,500,000 by the time he retires in 30 years and believes he can earn an annual return of 8%. How much does he need to invest each year to achieve his goal?


A) $13,242
B) $18,900
C) $20,518
D) None of the above

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