You just won the lottery and after taxes you have $32,000. You want to have $1,000,000 by the time you are 65, which is 45 years from now. Assuming that you can earn 9 percent each year on your money, how much (in dollars) of the $32,000 must you invest today?
A) $17,891.62
B) $18,524.91
C) $20,692.24
D) $22,943.28

Question

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The Answer of You just won the lottery and after taxes you have $32,000. You want to have $1,000,000 by the time you are 65, which is 45 years from now. Assuming that you can earn 9 percent each year on your money, how much (in dollars) of the $32,000 must you invest today?
A) $17,891.62
B) $18,524.91
C) $20,692.24
D) $22,943.28

You Just Won the Lottery and After Taxes You Have