Careful investment, Jack wishes to become a millionaire by

Careful investment

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Reference no: EM13740017

Jack wishes to become a millionaire by the time when he is 60 years old. He believes that by careful investment he can obtain 15% rate of return. He plans to add a uniform sum of money to his investment each program each year, beginning on his 20th birthday and continuing through his 59th birthday. How much money must the engineer set aside in this project each year?

Reference no: EM13740017

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