SuperFit wants to build a new fitness facility that costs $7.5 million. Suppose SuperFit currently has $2.5

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SuperFit wants to build a new fitness facility that costs $7.5 million. Suppose SuperFit currently has $2.5 million that is accruing 12.5% interest quarterly. After 2.5 years, a donation of $3.8 million is made towards the cost of the facility.

How many quarters will it be until SuperFit has enough funding to build the facility?

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Principles of Finance

ISBN: 978-1285429649

6th edition

Authors: Scott Besley, Eugene F. Brigham

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Posted Date: Jul 10, 2023 01:07 AM

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SuperFit wants to build a new fitness facility that costs $7.5 million. Suppose SuperFit currently has $2.5

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I It will take 10 quarters for SuperFit to have enough funding to build the facility II At the end o... View the full answer

Principles of Finance

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