Paul Lennon, DDS, has $87,400 to place in a retirement account today. He plans to add...

Paul Lennon, DDS, has $87,400 to place in a retirement account today. He plans to add $820 a month to the account until he retires in 17 years. He'd like to have $675,000 when retires. The rate Dr. Lennon needs to earn to reach his goals is closest to:

A. 12.36%. B. 7.80%. C. 17.63%.

Expert Solution

jeff jeffy answered 2 years ago

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