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A 20-year-old student wants to save $10 a day for her retirement. Every day she places $10 in a drawer. At the end of the year, she invests the accumulated savings in a brokerage account with an expected annual return of 8%. How many years would she have to save to reach her retirement goal of $1.5 million? Assume, for ease of calculation, that all years are 365 days long.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92414694

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