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Liz has an opportunity to invest $20,000 today at a nominal interest rate of 8.4% per annum, compounding quarterly. If she wants this to grow

Liz has an opportunity to invest $20,000 today at a nominal interest rate of 8.4% per annum, compounding quarterly. If she wants this to grow to $35,000, how long does she need to hold her investment?

Select one:

a. 27.9 quarters

b. 27.5 quarters

c. 25.1 quarters

d. 26.9 quarters

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