Question: can you solve it without excel please 5. Dr. Fadel is valued employee at the university. The university plans to offer him a $100,000 bonus,

can you solve it without excel please

5. Dr. Fadel is valued employee at the university. The university plans to offer him a $100,000 bonus, payable when he retires in 20 years. If the university deposits $200 a month in a sinking fund, what interest rate must it earn, with monthly compounding, to guarantee that the fund will be worth $100,000 in 20 years A. 6.66% B. 7.78% C. 8.99% D. 5.98%

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