Multiple Choice
You want to have $5 million when you retire in 40 years. You believe you can earn 9% per year on your investment. How much must you invest each year to achieve your goal when you retire? (Ignore all taxes)
A) $10,412
B) $11,619
C) $14,798
D) $15,295
E) none of the above $5 million/[((1.09) 40 -1) /0.09]
Correct Answer:
Verified
Correct Answer:
Verified
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