You are now 30-year-old. And you estimate that you can compound your capital for 40 years (till
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You are now 30-year-old. And you estimate that you can compound your capital for 40 years (till you reach age 70) at 7% annually. How much capital, approximately, do you need to start with if you want to have $1,000,000 at the end of the 40 years? Assume no tax/other cost?
Related Book For
Microeconomics An Intuitive Approach with Calculus
ISBN: 978-0538453257
1st edition
Authors: Thomas Nechyba
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