Use graphical approximation techniques to answer the question. When would an ordinary annuity consisting of...
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Accounting
Use graphical approximation techniques to answer the question. When would an ordinary annuity consisting of quarterly payments of $694.79 at 5% compounded quarterly be worth more than the principle of $7800 invested at 4% simple interest? The annuity would be worth more than the principle in approximately ___ years (Round to one decimal place as needed)
The annuity would be worth more than the principle in approximately ___ years
(Round to one decimal place as needed)
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