How many years after rebecca retires will caleb retire

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Problem - Today, Caleb and Rebecca each have $357,500 in an investment account. No other contributions will be made to their investment accounts. Both have the same goal: They each want their account to reach $1 million, at which time each will retire. Caleb has his money invested in moderate-risk securities with an expected annual return of 6%. Rebecca has her money invested in a stock fund with an expected annual return of 12%. If their actual realized returns equal the expected returns, how many years after Rebecca retires will Caleb retire?

Reference no: EM133024849

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