(Power of Compounding) If you'd like to have $6,000,000 at retirement in 42 years and...
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(Power of Compounding) If you'd like to have $6,000,000 at retirement in 42 years and you expect to earn 11 percent annually, which is around the average return over the past 50 years, what lump sum would you have to invest today? The lump sum you would have to invest today is $ (Round to the nearest cent.)
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