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on Dec 02, 2024
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After watching "Who Wants to Be a Millionaire," you have decided you want to join the millionaire's club. Your goal is to have $1,000,000 in 35 years. If you can invest in a mutual fund that you project will earn a 10% return, how much must you invest each year to meet your goal? (Round to nearest $)
A) $2,852
B) $3,690
C) $4,357
D) $5,119
Mutual Fund
An investment vehicle comprised of a pool of funds collected from many investors for the purpose of investing in securities such as stocks, bonds, money market instruments, and other assets.
- Acquire knowledge about how differing savings rates and investment tactics affect the realization of financial targets.
Verified Answer
LS
Learning Objectives
- Acquire knowledge about how differing savings rates and investment tactics affect the realization of financial targets.