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3. When your first child is born, you open an account for him with 5,000. If this account will earn a compound average annual

3. When your first child is born, you open an account for him with 5,000. If this account will earn a compound average annual rate of 12%, then at which birthday will the child be a millionaire for the first time? On his 40th birthday On his 46th birthday On his 47th birthday On his 50th birthday Never

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