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You’ve decided that you want $1,000,000 in your investment account when you retire 25 years from...

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Finance

You’ve decided that you want $1,000,000 in your investmentaccount when you retire 25 years from today. If you already have$100,000 in the account, and it earns a nominal rate of 8% peryear, compounded quarterly, how much money will you have to depositinto that account per year in order to reach your goal?

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