Today, you turn 21. Your birthday wish is that you will be a millionaire by your 50th birthday. In an attempt to reach this goal, you decide to save $20 a day, every day until you turn 50. You opened
An investment account and deposited your first $20 at the end of the day. What rate of return must
You earn to achieve your goal? Interest is compounded daily.
A) 8.89%
B) 9.04%
C) 9.11%
D) 9.19%
E) 9.23%
Correct Answer:
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