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Compute How long will take Jack to win Jill hand in marriage

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Reference no: EM132941598

Problem 1: Jack asked Jill to marry him, and she has accepted under one condition: Jack must buy her a new $320,000 Rolls-Royce Phantom. Jack currently has $31,480 that he may invest. He has found a mutual fund with an expected annual return of 6 percent in which he will place the money. How long will it take Jack to win Jill's hand in marriage. Ignore taxes and inflation.

Reference no: EM132941598

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