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E6.10B (LO 2) (Unknown Periods and Unknown Interest Rate) Consider the following independent situations: (a) Jafri wishes to accumulate $2 million. His money market fund

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E6.10B (LO 2) (Unknown Periods and Unknown Interest Rate) Consider the following independent situations: (a) Jafri wishes to accumulate $2 million. His money market fund has a balance of $184,592 and has a guaranteed interest rate of 10%. How many years must Jafri leave that balance in the fund in order to get his desired $2,000,000? (b) Assume that Jones desires to accumulate $2 million in 15 years using her money market fund of $365,392. At what inter- est rate must Jones's investment compound annually

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