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Bill plans to retire in 28 years. He currently has saved up $400,000, and he believes he will need $1,000,000 at retirement What annual interest
Bill plans to retire in 28 years. He currently has saved up $400,000, and he believes he will need $1,000,000 at retirement What annual interest rate must Bill earn to reach his goal, assuming he does not save any additional funds between now and retirement? a. 3.33% b. 40.00% c. 2.14% d. 1.43% e 5.36% You have $27,886,55 in a brokerage account, and you plan to deposit an additional 55,500 at the end of every year until your account totals $350,000. You expect to earn 8.8 percent annually on the account. How long will it take to reach your goal? a. 19 years b. 20 years c. 21 years d. 22 years e. 18 years
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