How many years will it take for an investment to be worth $8679.00 in the future...

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How many years will it take for an investment to be worth $8679.00 in the future...

How many years will it take for an investment to be worth $8679.00 in the future with a deposit today of $6,000 at a 6.20% annual rate of return with quarterly compounding. Please show ALL work with finance formulas.

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Answer 1

Answer #1

deposited $6000 today 63 o./. annual γ ate of elon quaterly compoun diN1 Anveslment at a uture date E6 71 4 t 6000004 3 = 8611 a 1015 s) 465 on bolh Sides ut lo o155)oq C1 4465 0.02672 t 0.160318

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How many years will it take for an investment to be worth $8679.00 in the future...

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