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Exercise 6-10 Consider the following independent situations. Click here to view factor tables Chris Finley wishes to become a millionaire. His money market fund has
Exercise 6-10 Consider the following independent situations. Click here to view factor tables Chris Finley wishes to become a millionaire. His money market fund has a balance of $342,985 and has a guaranteed interest rate of 6%. How many years must Chris leave that balance in the fund in order to get his desired $1,100,000? (Round answer to 0 decimal places, e.g. 45.) years Assume that Candice Williams desires to accumulate $1,100,000 in 13 years using her money market fund balance of $252,092. At what interest rate must Candice's investment compound annually? (Round answer to O decimal places, e.g.5%.) Interest rate
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