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Today, Edgar and Eleanor each have $150,000 in an investment account. No other contributions will be made to their investment accounts. Both have the same goal: They each want their account to reach $1 million, at which time each will retire. Edgar has his money invested in low-risk securities with an expected annual return of 5 percent. Eleanor has her money invested in a stock fund with an expected annual return of 10 percent. How many years after Eleanor retires will Edgar retire?

12.6

19.0

29.4

38.9

19.9

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M91776683

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