Question: Use graphical approximation techniques to answer the question. When would an ordinary annuity consisting of quarterly payments of $694.79 at 5% compounded quarterly be worth

Use graphical approximation techniques to answer the question. When would an ordinary annuity consisting of quarterly payments of $694.79 at 5% compounded quarterly be worth more than the principle of $7800 invested at 4% simple interest?

The annuity would be worth more than the principle in approximately ___ years

(Round to one decimal place as needed)

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