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How long would it take for Tommy to save an adequate amount for retirement if he deposits $40,000 per year into an account beginning one
How long would it take for Tommy to save an adequate amount for retirement if he deposits $40,000 per year into an account beginning one year from today that pays 12 percent per year if he wishes to have a total of $1,000,000 at retirement?
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A.
15.5 years
B.
15.0 years
C.
16.5 years
D.
14.5 years
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