1. Joe Smith has asked your financial advice. He would like to have $2,500,000 in...
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1. Joe Smith has asked your financial advice. He would like to have $2,500,000 in his investment account 25 years from now. He expects a stable 6% return and has $500,000 now.
How much does he need to add to his account annually to achieve his goal?
2. Joe Smith has asked your financial advice. He would like to have $2,500,000 in his investment account 25 years from now. He expects a stable 6% return and has $500,000 now.
What would he need to add annually if his return was reduced to 5.5%?
3, Joe Smith has asked your financial advice. He would like to have $2,500,000 in his investment account 25 years from now. He expects a stable 6% return and has $500,000 now.
What would he need to add annually if his return was increased to 7%?
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