Jeff Johnson wants to have $2,000,000 in his retirement account when he retires on his...
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Jeff Johnson wants to have $2,000,000 in his retirement account when he retires on his 65th birthday. He is 24 today and will make annual payments once he starts paying into the retirement fund. How much will Jeff have to pay annually to achieve his goal if he can get an 8 percent annual interest rate. (round to the nearest whole dollar)
$16,000
$7,123
$9,257
$48,780
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