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10. Mr. Webster is planning to retire in 30 years, and his goal is to have $1,000,000 in his retirement fund when he retires. He
10. Mr. Webster is planning to retire in 30 years, and his goal is to have $1,000,000 in his retirement fund when he retires. He will start by depositing $25,000 into his fund today and $1,000 at the end of each month for the 30 year period. What is the annual rate of return that Mr. Webster will need to accomplish his goal?
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