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QUESTION

You want to be a "millionaire" and you have 41 years to achieve it.

You want to be a "millionaire" and you have 41 years to achieve it. What lump sum could you invest now to reach your goal, assuming that (on average) you receive an annual rate of return of 8% compounded monthly?

about $38,040

about $37,749

about $42,621

about $761,530

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