Business, 27.05.2020 21:09 aprilstalder

Allison and Leslie, who are twins, just received $15,000 each for their 24th birthdays. They both have aspirations to become millionaires. Each plans to make a $5,000 annual contribution to her "early retirement fund" on her birthday, beginning a year from today. Allison opened an account with the Safety First Bond Fund, a mutual fund that invests in high-quality bonds whose investors have earned 8% per year in the past. Leslie invested in the New Issue Bio-Tech Fund, which invests in small, newly issued bio-tech stocks and whose investors have earned an average of 16% per year in the fund's relatively short history. a. If Allison's fund earns the same returns in the future as in the past, how old will she be when she becomes a millionaire

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Allison and Leslie, who are twins, just received $15,000 each for their 24th birthdays. They both ha...

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