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Jack asked Jill to marry him, and she has accepted under one condition: Jack must...

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Question

Finance

Jack asked Jill to marry him, and she has accepted under one condition: Jack must buy her a new

$340,000

Rolls-Royce Phantom. Jack currently has

$48,380

that he may invest. He has found a mutual fund with an expected annual return of

4.5

percent in which he will place the money. How long will it take Jack to win Jill's hand in marriage? Ignore taxes and inflation.

Question content area bottom

Part 1

The number of years it will take for Jack to win Jill's hand in marriage is

enter your response here

years. (Round to one decimal place.)

Answer & Explanation Solved by verified expert
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