Question 14 You are now 30-year-old. And you estimate thatyou can compound your capital for...
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Finance
Question 14
You are now 30-year-old. And you estimate thatyou can compound your capital for 40 years (till you reach age 70) at 7% annually. How much capital, approximately, do you need to start with if you want to have $1,000,000 at the end of the 40 years? Assume no tax/other cost.
a. $23,364.49
b. $66,780.38
c. $77,891.94
d. $25,000
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