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You would like to save by making monthly deposits of $413.50 at an interest of 1.2% p.a. compounded monthly. Your goal is to grow your
You would like to save by making monthly deposits of $413.50 at an interest of 1.2% p.a. compounded monthly. Your goal is to grow your account to $14,000, and you wonder how many years it would take you to reach your goal. Answer the following questions, and choose the closest answer from the possible choices: This question is an example of. (Choose from Ordinary Simple Annuities or Ordinary General Annuities) Choose... Which TVM variable in the financial calculator should be set equal to zero when solving for the Choose... number of payments? What is the value of I/Y that you enter into the financial calculator using the financial calculator Choose... TVM keys approach? How many monthly payments would it require for your account to grow to $14,000? Choose... How many years would it require for your account to grow to $14,000? (Round the final answer to 2 Choose... decimal places)
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