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If an investor deposits $ 100 per year in an investment paying 12% interest, how long...

If an investor deposits $ 100 per year in an investment paying 12% interest, how long will it take to reach an accumulated amount of $ 3239.26

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Answer #1

- Annual Periodic Deposit each year = $100

Accumulated Future Value = $3239.26

Calculating the Number of years it wiil take to accumulate the amount:-

No of years = 14

So, time it will take to accumulate amount is 14 years

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