Question: please show step by step method of solving this problem. Question 9 1/1 pts Today, Bruce and Brenda each have $150,000 in an investment account.
please show step by step method of solving this problem.
Question 9 1/1 pts Today, Bruce and Brenda each have $150,000 in an investment account. No other contributions will be made to their investment accounts. Both have the same goal: They each want their account to reach $1 million, at which time each will retire. Bruce has his money invested in risk-free securities with an expected annual return of 5 percent. Brenda has her money invested in a stock fund with an expected annual return of 10 percent. How many years after Brenda retires will Bruce retire? 19
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