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You need to save a total of $9,000 in order to buy a new motorcycle. You are starting with savings of $4,000 but will make no additional contributions. How long do you need to wait in order to reach your goal? In excel, compute and graph the number of years required for an annual interest rate of 7%. Solve separately for interest that is compounded annually, semi-annually, quarterly, monthly, weekly, daily, and continuously. Also compute and graph the effective interest rate for each compounding frequency.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92645712

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