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5 . Tammy wants to have $ 1 , 0 0 0 , 0 0 0 when she retires. If she deposits $ 5 0

5 .

Tammy wants to have $

1, 000, 000

when she retires. If she deposits $

50, 000

in the bank today and earns

12 %

compounded annually, how many years will it take her to reach her investment goals?

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