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Cooper has an antique painting that he hopes to sell for $12,000 in the future (FV). He was just offered $6,000 for the painting (PV).

Cooper has an antique painting that he hopes to sell for $12,000 in the future (FV). He was just offered $6,000 for the painting (PV). At a discount rate of 12% with monthly compounding, how many years would Cooper have to wait if he wanted to sell for the $12,000?

69.66 years

5.81 years

6.12 years

73.40 years

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