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A company establishes a sinking fund for upgrading office equipment with monthly payments of $2000 into an account paying 66% compounded monthly How long will it be before the account has

A company establishes a sinking fund for upgrading office equipment with monthly payments of $2,000 into an account paying 6.6% compounded monthly. How long will it be before the account has $100,000? (Round up to the next-higher month if not exact.)
 

Apr 28 2020 View more View Less

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