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How long do have to wait before first payment

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Point 1: The bank offers you an investment plan where you invest $6835 at an interest rate of 6% compounded monthly, and after some period of time, the bank will pay you payments of $928 at the beginning of every quarter for 8 years.

Question 1: How long (in years, round to two decimal places) do you have to wait before your first payment?

Reference no: EM132494238

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