If Geoff makes quarterly deposits of $1,000 into an account that pays 1.4% interest quarterly, how long
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If Geoff makes quarterly deposits of $1,000 into an account that pays 1.4% interest quarterly, how long will it take for his principal to grow to $10,000? Use the future balance of a periodic investment formula from Example 3 to answer the question. Round to the nearest tenth of a year.
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The principal 1000 will grow to 10000 in 166 years This example also illustrates how to find the fut...View the full answer
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Related Book For 
Financial Algebra Advanced Algebra With Financial Applications
ISBN: 9781337271790
2nd Edition
Authors: Robert Gerver, Richard J. Sgroi
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