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Your son is born today and you want to make him a millionaire by the time he is 50 years old. You deposit $10,700 in

Your son is born today and you want to make him a millionaire by the time he is 50 years old. You deposit $10,700 in an investment account and want to know what annual interest rate must you earn in order to have the account value equal to $1,000,000 on your son's 50th birthday.

A. 6.2%

B. 17.8%

C. 12.4%

D. 9.5%

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