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When you retire 35 years from now, you want to have $2.3 million. You think that you can earn an average of 7.5 percent, compounded
When you retire 35 years from now, you want to have $2.3 million. You think that you can earn an average of 7.5 percent, compounded semiannually, on your investment. To meet your goal, you are trying to decide whether to invest today, or to wait and invest 2 years from today. How much more will you have to invest if you wait for 2 years before making the investment
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