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You expect to receive $ 2 0 , 0 0 0 at graduation in two years. You plan on investing it at 8 percent until

You expect to receive $20,000 at graduation in two years. You plan on investing it at 8
percent until you have $103,000. How long will you wait from now?
Multiple Choice
19.30 years
23.30 years
26.09 years
21.30 years
25.63 years
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