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March 27, 2015

Homework Help: value of money

Posted by nmh on Friday, July 8, 2011 at 2:57pm.

You want to have $1,000,000 in your bank account when you turn 65 years old. Today is your 20th birthday. As a birthday present you received $27,000 and you want to invest this amount. At what annual interest rate must you achieve to realize this goal?

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