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A) Daniel Finley wishes to become a millionaire. His money market fund has a balance of $109,333 and has a guaranteed interest rate of 10%.
A) Daniel Finley wishes to become a millionaire. His money market fund has a balance of $109,333 and has a guaranteed interest rate of 10%. How many years must Daniel leave that balance in the fund in order to get his desired $979,000?
B) He then desires to accumulate $979,000 in 15 years using his money market fund balance of $187,154. At what interest rate must Daniels investment compound annually?
C)
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