Your daughter is born today and you want her to be a millionaire by th
Your daughter is born today and you want her to be a millionaire by the time she is 40 years old.
open an investment account that promises to pay 11.5% per year.
How much money must you
deposit today so your daughter will have $1,000,000 by her 35th birthday?
A) $20,100 B) $22,150 C) $28,575 D) $18,940
ANSWER
B
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