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You expect to receive $18,000 at graduation in two years. You plan on investing it at 8 percent until you have $107,000. How long will

You expect to receive $18,000 at graduation in two years. You plan on investing it at 8 percent until you have $107,000. How long will you wait from now?

Multiple Choice

  • 21.16 years

  • 25.16 years

  • 23.16 years

  • 27.68 years

  • 28.18 years

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