Gordon and Lisa Estimate That They Will Need $1,875,000 in 40

question 5

Multiple Choice

Gordon and Lisa estimate that they will need $1,875,000 in 40 years for their retirement fund. If they can earn 8% annually on their funds, how much do they need to save annually? (Round to the nearest whole dollar.)

• A)$7,238
• B)$7,987
• C)$8,103
• D)$9,234
• E)$9,875

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