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Steven wishes to accumulate $2,700,000. His money market fund has a balance of $536,371 and has a guaranteed interest rate of 8%. How many years
Steven wishes to accumulate $2,700,000. His money market fund has a balance of $536,371 and has a guaranteed interest rate of 8%. How many years must Steven leave that balance in the fund in order to get his desired $2,700,000? (Round answer to O decimal places, e.g. 45.) eTextbook and Media years Your answer is incorrect. Assume that Carol desires to accumulate $2,700,000 in 12 years using her money market fund of $504,649. At what interest rate must Carol's investment compound annually? (Round answer to 0 decimal places, e.g. 5%.) Interest rate
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