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FINANCE: Suppose you are committed to owning a $250,000 Ferrari and you have $100,000 now. If you believe your mutual fund can achieve a 12

FINANCE: Suppose you are committed to owning a $250,000 Ferrari and you have $100,000 now. If you believe your mutual fund can achieve a 12 percent annual rate of return and you are able to save $1000 per month, how long you will have to wait for buying the car image text in transcribed

Suppose you are committed to owning a $250,000 Ferrari and you have $100,000 now. If you believe your mutual fund can achieve a 12 percent annual rate of return and you are able to save $1000 per month, how long you will have to wait for buying the car? A. 8.6 years B. 5.3 years C. 3.5 years D. 4.7 years

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