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Consider the following independent situations. Click here to view factor tables James Finley wishes to become a millionaire. His money market fund has a balance
Consider the following independent situations. Click here to view factor tables James Finley wishes to become a millionaire. His money market fund has a balance of $224,953 and has a guaranteed interest rate of 10%. How many years must James leave that balance in the fund in order to get his desired $706,000? (Round answer to o decimal places, e.g. 45.) years e Textbook and Media Assume that Mary Williams desires to accumulate $706,000 in 15 years using her money market fund balance of $193,824. At what interest rate must Mary's investment compound annually? (Round answer to decimal places, e.g. 5%.) Interest rate % e Textbook and Media
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