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Assume the firm invests $80,000 today at a 12% interest rates and would like to have...

Assume the firm invests $80,000 today at a 12% interest rates and would like to have it grow to $250,000. How many years will the investment take to grow to $250,000? Assume the interest rate compounds annually.

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Answer #1

Please refer to below spreadsheet for calculation and answer. Cell reference also provided.

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