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You have just received $135,000 from the estate of a long-lost rich uncle. If you invest all your inheritance in a tax-free bond fund earning
You have just received $135,000 from the estate of a long-lost rich uncle. If you invest all your inheritance in a tax-free bond fund earning 6.8% compounded quarterly, how long do you have to wait to become a millionaire? () YR You have just won $110,000 from a lottery. If you invest all this amount in a tax-free money market fluid earning 8% compounded weekly, how long do you have to wait to become a millionaire? () yr In the following ordinary annuity, the interest is compounded with each payment, and the payment is made at the end of the compounding period. Find the accumulated amount of the annuity. (Round your answer to the nearest cent.) $2500 annually at 5% for 10 years. $
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