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Tom Thompson expects to invest $12,000 at 8% and, at the end of a certain period, receive $41,111. How many years will it be before
Tom Thompson expects to invest $12,000 at 8% and, at the end of a certain period, receive $41,111. How many years will it be before Thompson receives the payment? (PV of \$1. EV of \$1, PVA of $1, and FVA of \$1) (Use appropriate factor(s) from the tables provided. Round "Table Factor" to 4 decimal places.)
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