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How many years will take for the investment to triple

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Reference no: EM132914082

Problem 1: If, at present, you have $28 000 invested at a rate of 9% per annum, approximately how many years will it take for the investment to triple?

Problem 2: If you wish to save $1 500 000 in five years, how much would you need to deposit at the start of each quarter to achieve this goal, assuming an interest rate of 8% compounded quarterly.

Reference no: EM132914082

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