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You expect to receive $4,100 upon your graduation and will invest your windfall at an...

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Question

Accounting

You expect to receive $4,100 upon your graduation and will invest your windfall at an interest rate of .63 percent compounded quarterly until the account is worth $5,500. How many years do you have to wait until you reach your target account value?

11.80 years

11.69 years

12.59 years

10.91 years

10.23 years

Answer & Explanation Solved by verified expert
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