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DonaldFinley wishes to become a millionaire. His money market fund has a balance of $106,805and has a guaranteed interest rate of10%. How many years mustDonaldleave
- DonaldFinley wishes to become a millionaire. His money market fund has a balance of $106,805and has a guaranteed interest rate of10%. How many years mustDonaldleave that balance in the fund in order to get his desired $1,052,000?(Round answer to 0 decimal places, e.g. 45.)
2.Assume thatHelenWilliams desires to accumulate $1,052,000in15years using her money market fund balance of $129,285. At what interest rate mustHelen's investment compound annually?(Round answer to 0 decimal places, e.g. 5%.)
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