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1. You receive $9,000 today. You plan on investing this money at 10 percent until you have $60,000. How many years will it be until
1. You receive $9,000 today. You plan on investing this money at 10 percent until you have $60,000. How many years will it be until this occurs?
2. If the nominal rate is 8% compounded monthly what is the effective semi-annual rate?
3. What is the effective annual rate of 13.5 percent compounded monthly?
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