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Save Homework: Chapter 5 HW Score: 0 of 1 pt Problem 5-1 (similar to) 5 of 17 (4 complete) HW Score: 23.53%, 4 of 17

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Save Homework: Chapter 5 HW Score: 0 of 1 pt Problem 5-1 (similar to) 5 of 17 (4 complete) HW Score: 23.53%, 4 of 17 pts Question Help (Power of Compounding) If you'd like to have $2,000,000 at retirement in 49 years and you expect to eam 8 percent annually, which is around the average return over the past 50 years, what lump sum would you have to invest today? The lump sum you would have to invest today is $ (Round to the nearest cent.)

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