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accounting

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1,150,000 in cash. How long would it take them to accumulate $2,000,000 in cash? Assume an interest rate of 5 percent.

  • accounting -

    Figure it out. Take .05 of $1,150,000 and then add that to the amount for the 2nd year. Keep doing that until you reach $2,000.000.00

    Sra

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