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How long will it take to accumulate this amount

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Reference no: EM133025630

Question - Julia wants to accumulate $32,000 in a fund with payments of $2,100 made at the end of every six months. The interest rate is 7.22% compounded semi-annually.

a. How many payments (rounded up to the next payment) will it take to accumulate this amount?

b. How long will it take to accumulate this amount?

Reference no: EM133025630

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