Multiple Choice
How long would it take for Nico to save an adequate amount for retirement if he deposits $40,000 per year into an account beginning one year from today that pays 12 percent per year if he wishes to have a total of $1,000,000 at retirement?
A) 12.2 years
B) 15.7 years
C) 14.5 years
D) 16.5 years
Correct Answer:
Verified
Correct Answer:
Verified
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