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Emeril plans to retire in 25 years. If Emeril needs $3,300,000 on the first day of retirement. He currently has $950,000 saved. Additionally, he can
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Emeril plans to retire in 25 years. If Emeril needs $3,300,000 on the first day of retirement. He currently has $950,000 saved. Additionally, he can save $13,800 each year. How much must Emeril earn on his investments to reach the goal?
a. 4.07%
b. 4.27%
c. 5.72%
d. 7.52%
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