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Ahmed just turned 2 3 and wants to have $ 9 , 0 8 3 saved in 7 years, by his 3 0 th birthday.

Ahmed just turned 23 and wants to have $9,083 saved in 7 years, by his 30th birthday. Assuming no additional deposits, if he currently has $5,300 in an intermediate- term bond fund earning a yield of 6 percent, will he reach his goal? If not, what rate is required to meet his goal?

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