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Krazil Krazil
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6 months ago

Burton Bush wants to retire in Arizona when he is 80 years of age. Burton, who is now 55, believes he will need $400,000 to retire comfortably. To date, he has set aside no retirement money. If he gets an interest rate of 6% compounded annually, what will he have to invest today to reach his goal?

Note: Round to the nearest dollar



▸

$160,000



▸

$91,243



▸

$96,500



▸

$93,199

Textbook 
Math for Business and Finance: an Algebraic Approach

Math for Business and Finance: an Algebraic Approach


Edition: 3rd
Author:
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sania24sania24
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6 months ago
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Krazil Author
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6 months ago
I appreciate what you did here, answered it right Smiling Face with Open Mouth
nadiia
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This calls for a celebration Person Raising Both Hands in Celebration
kater28
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2 hours ago
Helped a lot
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