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Company Z needs $12,000,000 in a few years for purchasing a building. The company plans to invest $5,068,920 today in an account that pays
Company Z needs $12,000,000 in a few years for purchasing a building. The company plans to invest $5,068,920 today in an account that pays 9% interest compounded annually. How many years will it take for Company Z to grow its initial investment to $12,000,000? A. 8 years. B. 9 years. C. 10 years. D. 11 years.
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Intermediate Accounting
Authors: Donald Kieso, Jerry Weygandt, Terry Warfield, Nicola Young,
10th Canadian Edition, Volume 1
978-1118735329, 9781118726327, 1118735323, 1118726324, 978-0176509736
