Question
Evie is a 20-year-old social media influencer who earns lots of income from her YouTube channel. She brags to her friends, I'm going to be
Evie is a 20-year-old social media influencer who earns lots of income from her YouTube channel. She brags to her friends, "I'm going to be a millionaire by the time I'm 40," but seems to spend money as fast as it comes in.
a.. If interest rates are currently 9%, how much should Evie set aside today to guarantee her millionaire status by 40?
b. How much should Evie set aside if she decides she wants to reach millionaire status by 30 instead of 40?
c. The amount Evie must set aside ____________________when she decides she needs to achieve millionaire status twice as quickly. This is because_____________________________________
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