can you explain how we get compute 9.00647

4.7 Waiting Time and Interest Rates for Annuities (continued) Example 8: Solving for the number of annuities involved Martha wants to save up $100,000 as soon as possible so that she can use it as a down payment on her dream house. She figures that she can easily set aside $8,000 per year and earn 8% annually on her deposits. How many years will Martha have to wait before she can buy that dream house? 4.7 Waiting Time and Interest Rates for Annuities (continued) Example 8 Answer Mothnd 1. Ilcinn a finanrial ralculator |vielliuu . usllly all excei spieausliet Using the "=NPER" function we enter the following: Rate=8%;Pmt=8000;PV=0;FV=100000;Type=0oromitted;i.e.=NPER(8%,8000,0,100000,0) The cell displays 9.006467