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Find the amount of time needed for the sinking fund

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In the following ordinary annuity, the interest is compounded with each payment, and the payment is made at the end of the compounding period.

Problem 1: Find the amount of time needed for the sinking fund to reach the given accumulated amount. (Round your answer to two decimal places.) $2500 yearly at 6% to accumulate $100,000.

Reference no: EM132627966

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