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Brief Exercise G-19 Tim Howard has been offered the opportunity of investing $26,294 now. The investment will earn 10% per year and at the end
Brief Exercise G-19 Tim Howard has been offered the opportunity of investing $26,294 now. The investment will earn 10% per year and at the end of that time will return Tim $62,000. Click here to view the factor table. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) How many years must Tim wait to receive $62,000? (Hint: Use Present value of 1 factor table.) (Round answer to 0 decimal places, e.g. 25.) Tim must wait years Click if you would like to Show Work for this question: Open Show Work
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