Question
Henry wants to save $300,000 for a downpayment on a house. At the end of each year, he plans to save $10,000 in an account
Henry wants to save $300,000 for a downpayment on a house. At the end of each year, he plans to save $10,000 in an account paying 2% interest. How long will it take for him to reach his savings goal?
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SOLUTION Formula T P1 rn T Target Amount P Initial Amount r Interest Rate n No of Years Given T 300...
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Introduction to Operations Research
Authors: Frederick S. Hillier, Gerald J. Lieberman
10th edition
978-0072535105, 72535105, 978-1259162985
