Question
How long will it take to save $ 17000 by making deposits of $ 85 at the end of every month into an account earning
How long will it take to save $17000
by making deposits of $85
at the end of every month into an account earning interest at
7.5% compounded annually
annually? State your answer in years and months(from 0 to 11months).
It will take
year(s) and
month(s) to save
17,000.
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Fundamentals of Financial Management
Authors: Eugene F. Brigham, Joel F. Houston
11th edition
324422870, 324422873, 978-0324302691
