A first-year teacher wants to retire in 40 years. The teacher plans to invest in...
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Finance
A first-year teacher wants to retire in 40 years. The teacher plans to invest in an account with a 7.12% annual interest rate compounded continuously. If the teacher wants to retire with at least $150,000 in the account, how much money must be initially invested? Round your answer to the nearest dollar. $12,275 $12,763 $8,695 $8,863
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