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Personal Finance
, Eighth Edition
E. Thomas Garman, Virginia Polytech Institute and State University
Raymond E. Forgue, University of Kentucky
Financial Math Questions
Chapter 5: Management of Monetary Assets
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Question 4
How many years of investing $2000 annually at 8 percent will it take to reach a goal of $20,000? (Hint: Use
Appendix A.3
or the
calculator.
)
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