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QUESTION 6 You invest $250,000 in a fund earning 6.25% compounded semiannually, how many years will it take for the fund to reach $1,000,000? Answer

QUESTION 6

You invest $250,000 in a fund earning 6.25% compounded semiannually, how many years will it take for the fund to reach $1,000,000? Answer in years to the nearest 0.01 years.

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