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Waiting period. Susan Norman seeks your finandal advice. She wants to know how long it will tave her to become a millionalre. She tells you

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Waiting period. Susan Norman seeks your finandal advice. She wants to know how long it will tave her to become a millionalre. She tells you that she has $1,268 today and wants to invest it lin an aggreselve stock portholo. The historical tetum on this type of investment is 19% per year. How long will she have to wain if the $1,268 is the onily amount she invests and she nover withdrass trom the market uni she reaches her $1 milion? (Assume no tawes on the earnings.) What it the rate of rotum is only 17% annualy? What if the rate of return is only 11% annually? How long wil Susar have to wan to becorte a milionaire if the invests $1,268 todsy at an annual rate of roturn of 19%

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