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need help Problem 1: Ned is 40 and Maude is 35. Ned's annual income is $35,000, and Maude's annual income is $20,500. They currently have
need help Problem 1: Ned is 40 and Maude is 35. Ned's annual income is $35,000, and Maude's annual income is $20,500. They currently have $35,000 in their investment account. They wish to have one million dollars by the time Ned retires when he turns 65. a. Assume that Ned and Maude invest 10% of their income at the end of each year, and that their income increases at 3% cach year for the next 25 years. What rate of return is needed on their investment account in order to obtain their million-dollar retirement goal
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