John already has $46,301 in his savings account. He plans to make contributions of $1,583 15 at

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John already has $46,301 in his savings account. He plans to make contributions of $1,583 15 at the end of every six months, until he reaches $61,700. The interest rate is 9% compounded annually.

In how many years and months will he reach his goal?

Related Book For answer-question

Income Tax Fundamentals 2013

ISBN: 9781285586618

31st Edition

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill

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Posted Date: Dec 17, 2023 04:33 AM

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John already has $46,301 in his savings account. He plans to make contributions of $1,583 15 at

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Income Tax Fundamentals 2013

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