Average annual rate of return

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You are 22 year old today. You want to retire at age 55 and have $3 million at that time. Assume you can earm an average annual rate of return of 8.8 percent. Your hope is that you will win the lottery today and be able to fund your retirement dream with one lump sum depsosit today. how much would you have to win, after taxes, to make an investment today sufficient to fund your dream?

Reference no: EM13969746

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