You Want to Have $5 Million When You Retire in 40

question 25

Multiple Choice

You want to have $5 million when you retire in 40 years. You believe you can earn 9 percent per year on your investment. How much must you invest each year to achieve your goal when you retire? (Ignore all taxes.)

• A)$10,412
• B)$11,619
• C)$14,798
• D)$15,295
• E)None of the options

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