Today you turn 23 years old. Your birthday wish is to be a millionaire at 40 years old. In an attempt to reach this goal, she decides to save $75 a day, every day, until she is 40 years old. Open an investment account and deposit your first $75 today. What rate of return must you earn to achieve your goal?

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To determine the rate of return you need to achieve your goal of becoming a millionaire by the age o... View the full answer