You have decided that you want to be a millionaire when you retire in 45 years. If
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You have decided that you want to be a millionaire when you retire in 45 years. If you can earn an 11 percent annual return, how much do you have to invest today? What if you can earn 5.5 percent?
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To find the PV of a lump sum we use PV FV 1 r t So if you can earn 11 pe...View the full answer
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Related Book For 
Essentials Of Corporate Finance
ISBN: 9780073382463
7th Edition
Authors: Stephen Ross, Randolph Westerfield, Bradford Jordan
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