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(a) Your answer is correct. Daniel Finley wishes to become a millionaire. His money market fund has a balance of $109,333 and has a guaranteed
(a) Your answer is correct. 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? (Round answer to O decimal places, e.g. 45.) 23 years e Textbook and Media Attempts: 1 of 5 used (b) Assume that Nancy Williams desires to accumulate $979,000 in 15 years using her money market fund balance of $187,154.At what interest rate must Nancy's investment compound annually? (Round answer to 0 decimal places, e.g. 5%.) Interest rate % e Textbook and Media Save for Later Attempts: 0 of 5 used Submit
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