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You are 20 years old and plan to retire with $1,000,000. You have $25,000 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 $25,000 available for investment now. You deposit this into an account that pays 9.5% interest compounded annually? How old will you be when the account has the target amount? (Answers are rounded.)
A. 63
B. 65
C. 59
D. 55
E. 57
F. 61
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