What sort of return must bill earn

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Reference no: EM131016667

Bill Mitselfik, who is celebrating his 25th birthday, wishes to retire a millionaire when he is 45 years old. He figures he can make annual deposits (starting today, on his birthday) of $14,000 into a retirement fund.

What sort of return (interest) must Bill earn so he can retire according to his plan?

Reference no: EM131016667

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