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Please Answer two TVM questions. You have been awarded a large bonus at work in the amount of $10,000. You intend to save this bonus
Please Answer two TVM questions.
You have been awarded a large bonus at work in the amount of $10,000. You intend to save this bonus in an account earning interest of 8% compounded annually. You would like for your investment to eventually be worth $21,589.20. Question: How many years will it take for your initial $10,000 investment to reach its goal? Note: You may use the factor tables located in the appendix of your textbook or use the factor table links located at the bottom of this question. The factor table you select should open up in a new window on your computer. Answer: It will take years. (select the closest answer)Step by Step Solution
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