Multiple Choice
Ian would like to save $2,000,000 by the time he retires in 40 years. If he believes that he can achieve a 7% rate of return, how much does he need to deposit each year, starting one year from now, to achieve his goal?
A) $12,065
B) $37,500
C) $5,790
D) $10,018
Correct Answer:
Verified
Correct Answer:
Verified
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