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Intro You decided to save $1,400 every year, starting one year from now, in a savings account that pays an annual interest rate of 5%. Part 1 How many years will it take until you have $100,000 in the account? 1+ decimals Submit

Intro You decided to save $1,400 every year, starting one year from now, in a savings account that pays an annual interest rate of 5%. Part 1 How many years will it take until you have $100,000 in the account? 1+ decimals Submit

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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### Intro You decided to save $1,400 every year, starting one year from now, in a savings account that pays an annual interest rate of 5%. ### Part 1 **Question:** How many years will it take until you have $100,000 in the account? **Input:** A text box is provided for inputting the answer, which should be in 1+ decimal format. **Submit Button:** There is a blue button labeled "Submit" for submitting the answer.
Transcribed Image Text:### Intro You decided to save $1,400 every year, starting one year from now, in a savings account that pays an annual interest rate of 5%. ### Part 1 **Question:** How many years will it take until you have $100,000 in the account? **Input:** A text box is provided for inputting the answer, which should be in 1+ decimal format. **Submit Button:** There is a blue button labeled "Submit" for submitting the answer.
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