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How much does he need to invest

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Dan would like to save $2,000,000 by the time he retires in 40 years and believes he can earn an annual return of 8%. How much does he need to invest today to achieve his goal?

Show all work.

a. $136,000

b. $92,000

c. $134,000

d. $625,000

e. $92,060

Reference no: EM131077611

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