Youre trying to save to buy a new $160,000 Ferrari. You have $25,000 today that can be

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You’re trying to save to buy a new $160,000 Ferrari. You have $25,000 today that can be invested at your bank. The bank pays 3.2 percent annual interest on its accounts. How long will it be before you have enough to buy the car?

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Essentials Of Corporate Finance

ISBN: 9780073382463

7th Edition

Authors: Stephen Ross, Randolph Westerfield, Bradford Jordan

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Question Posted: Jun 12, 2019 09:27 AM

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Youre trying to save to buy a new $160,000 Ferrari. You have $25,000 today that can be

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Step by Step Answer:

We can use either the FV or the PV formula Both will give the same answer ...View the full answer

Essentials Of Corporate Finance

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