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ils. Please work on the exam on your own. University academic policies should be followed. 1) You will receive $5,000 at grad

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Answer #1

Value at year 3 =5000
Future Value =100000
Rate =9%

Using Financial calculator calculating number of periods
I/Y =9%; PV =-5000;FV =100000 CPT N =11.94 years

Total period from now =11.94+3 =14.94 years

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