Dan would like to save 2000000 by the time he retires in 40
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
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