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a. How much do you need to invest per month over a 24 year time horizon to become a millionaire, if you have no savings

a. How much do you need to invest per month over a 24 year time horizon to become a millionaire, if you have no savings and you can generate an average annual return on investment of 9%?

[Enter the dollar amount as a positive value and round to the nearest cent]

b. Suppose you invest $3,798 into an investment account each year earning 10.76% interest per annum. How much, in real terms, will you have in this account after 34 years if inflation is 2.39%?

[Round the answer to the nearest cent]

c. Suppose you bought 440 securities for $35.42 per security, which will pay you $2.54 per security in income per year. If these securities can be sold for $46.66 per security after one year, what is your capital gains yield?

[Enter the answer in as a percent (e.g. 5.55% = 5.55) - not a decimal]

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