Dr Nick

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    Kaplan University
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Category > Accounting Posted 15 Sep 2017 My Price 13.00

Consider the following independent situations.

In this file ACC 349 Week 3 Deliverables E6 10 Ind.1 there are solutions of the following tasks:

E6-10 (Unknown Periods and Unknown Interest Rate)

Consider the following independent situations.

(a)Mike Finley wishes to become a millionaire. His money market fund has a balance of $92,296 and has a guaranteed interest rate of 10%. How many years must Mike leave that balance in the fund in order to get his desired $1,000,000?

(b)Assume that Serena Williams desires to accumulate $1 million in 15 years using her money market fund balance of $182,696. At what interest rate must Serena

 

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Dr Nick
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Status NEW Posted 15 Sep 2017 10:09 AM My Price 13.00

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