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You are 20 years old and plan to retire with $1,000,000. You have $30,000 available for investment now. You deposit this into an account that
You are 20 years old and plan to retire with $1,000,000. You have $30,000 available for investment now. You deposit this into an account that pays 10% interest compounded annually? How old will you be when the account has the target amount? (Answers are rounded.)
A. | 57 | |
B. | 63 | |
C. | 55 | |
D. | 52 | |
E. | 61 | |
F. | 65 | |
G. | 54 | |
H. | 59 |
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