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Reference no: EM131740812

Question: Jensen's Shipping wants to expand as soon as it can save $142 million. Towards that goal, the firm started saving three years ago and currently has $19.6 million saved. Starting today, the firm will add $12,000 a month to this savings account. The rate of return is 13.1 percent, compounded monthly. How long will it be from now before the company can expand?

Select one:

a. 191.27 months

b. 191.23 months

c. 191.30 months

d. 178.07 months

e. 178.03 months

Reference no: EM131740812

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