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PLEASE SHOW WORK AND FORMULAS! You want to have $5 million when you retire in 40 years. You believe you can earn 9 percent per

image text in transcribedPLEASE SHOW WORK AND FORMULAS!

You want to have $5 million when you retire in 40 years. You believe you can earn 9 percent per year on your investment. How much must you invest each year to achieve your goal when you retire? (Ignore all taxes.) A). $10,412 B). $11,619 C). $14,798 D). $15,295 E). None of the options

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