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You expect to receive $10,000 at graduation in two years. You plan on investing it at 11 percent until you have $60,000. How long will
You expect to receive $10,000 at graduation in two years. You plan on investing it at 11 percent until you have $60,000. How long will you wait from now? | ||||
Input area: | ||||
Present value | $10,000 | |||
Years until cash flow received | 2 | |||
Interest rate | 11% | |||
Future value | $60,000 | |||
(Use cells A6 to B9 from the given information to complete this question.) | ||||
Output area: Calulate using excel | ||||
Number of years to reach value | ||||
Total years to wait from today |
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