Business, 06.04.2020 19:16 nails4life324

Amanda Sorenson is planning her retirement. She is presently investing in a 401(k) but needs an additional $500,000 to reach her retirement goal. As luck would have it. Amanda just won a brand new car that is worth $36,000 in a raffle. If Amanda were to sell the car and invest the $36,000 proceeds at a rate of 6.50%, compounded annually, how long will it be before Amanda could retire? (Round off to the nearest 1/10 of a year) a. 36.6 years b. 41.8 years c. 24.0 years d. 52.2 years

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Amanda Sorenson is planning her retirement. She is presently investing in a 401(k) but needs an addi...

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