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You are 20 years old today. You want to retire at age 50 and have $4 million at that time. Assume you can earn an

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You are 20 years old today. You want to retire at age 50 and have $4 million at that time. Assume you can earn an average annual rate of return of 9.25 percent. Your hope is that you will win the lottery today and be able to fund your retirement dream with one lump sum deposit today. How much would you have to win, after taxes, to make an investment today sufficient to fund your dream? i) $281,459.96 ii) $1,307,468.24 iii) $879,004.11 iv) $180,414.07

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