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One month from now, Kelly will make her first monthly contribution of $250 to a...

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Question

Accounting

One month from now, Kelly will make her first monthly contribution of

$250

to a Tax-Free Savings Account (TFSA). She expects to earn

7%

compounded annually. How long will it take for the contributions and accrued earnings to reach

$55,000

Part 1

It will take ______ months to reach $55000

Answer & Explanation Solved by verified expert
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