10. You wish to have $1,000,000 when you retire. You learned from Dr. Pruitt that...
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10. You wish to have $1,000,000 when you retire. You learned from Dr. Pruitt that the long-term rate of interest (net of inflation) for the stock market is generally about 7% per year. If you are starting from zero and you wish to retire in 40 years, how much money must you save each year in order to reach your goal
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