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solina solina
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6 years ago
Gina Dare, who wants to be a millionaire, plans to retire at the end of 40 years. Gina's plan is to invest her money by depositing into an IRA at the end of every year. What is the amount that she needs to deposit annually in order to accumulate $1,000,000? Assume that the account will earn an annual rate of 11.5%. Round off to the nearest $1.
A) $1,497
B) $5,281
C) $75
D) $3,622
Textbook 
Financial Management: Principles and Applications

Financial Management: Principles and Applications


Edition: 13th
Authors:
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Heavy Heart Thank you bio-forums! Heavy Heart
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David_hessDavid_hess
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6 years ago
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solina Author
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#2
6 years ago
Thanks for helping me with my business management course
Heavy Heart Thank you bio-forums! Heavy Heart
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#3
4 years ago
Thank you so much for the help
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#4
3 years ago
thank you
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