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(1 point) Suppose that you make a sequence of annual deposits (the first today) of 1125 dollars into an account paying an effective rate of
(1 point) Suppose that you make a sequence of annual deposits (the first today) of 1125 dollars into an account paying an effective rate of 7.4 percent. If your goal is to withdraw all the money the moment the balance reaches 19000 dollars, and the account pays simple interest between compoundings, find the number of years and days that must pass from the time of the first deposit until you reach your goal. (Note: your answer for the number of years should be a whole number, while your answer for the number of days should be a decimal approximation.) Answer = years and days
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