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Need help, please 23. Nicolas is determined to be a millionaire in 45 years. If Nicolas can earn an annual return of 11.4 percent, how
Need help, please 23. Nicolas is determined to be a millionaire in 45 years. If Nicolas can earn an annual return of 11.4 percent, how much will he have to invest today? What if Nicolas can earn 5.7 percent? 24. Alize Fashion Inc. has an unfunded pension liability of $500 million that must be paid in 20 years. To assess the value of the firm's stock, financial analysts was to discount this liability back to the present. If the relevant discount rate is 5.5 percent, what is the present value of this liability? 25. Michael plans on making an annual deposit of $5000 into a retirement account that earns an APR of 9.5 annually. If his first deposit will be made one year from now, how large will his retirement account be in 35 years
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