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Please explain your how you came to your answers. Consider the following independent situations. Click here to view factor tables Richard Finley wishes to become
Please explain your how you came to your answers.
Consider the following independent situations. Click here to view factor tables Richard Finley wishes to become a millionaire. His money market fund has a balance of $87,109 and has a guaranteed interest rate of 10%. How many years must Richard leave that balance in the fund in order to get his desired $858,000? (Round answer to O decimal places, eg. 45.) years Assume that Maria Williams desires to accumulate $858,000 in 15 years using her money market fund balance of $205,398. At what interest rate must Maria's investment compound annually? (Round answer to decimal places, eg. 5%.) Interest rate %Step by Step Solution
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