A $2 million deposit earns 7 percent for 13 years. If the account earns 9 percent per year forever after that, how long will it take to grow to $5 million? O zero; the account exceeds $5 million after 13 years O 0.26 year 0.43 year 1.18 years

Q: ould you have to deposit now to have

A: Present value would be equivalent value today required to be deposited today to receive that much…

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A: Here, Monthly Deposit till 8 years is $100 Interest Rate is 7.2% Required Amount is $400,000…