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OpenStudy (anonymous):
Determine the amount of money, to the nearest dollar, you must invest at 8% per year, compounded annually, so that you will be a millionaire in 32 years.
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OpenStudy (anonymous):
Assuming a 1 time investment, you would have to invest $85,201 for 32 years to be a millionaire. Let P be the amount to invest. Solve P(1.08)^32>=1,000,000
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