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I am stuck on this problem the answer I got was 98.00. But it says that it is incorrect I punch in the numbers and
I am stuck on this problem the answer I got was 98.00. But it says that it is incorrect I punch in the numbers and I keep getting this answer.
The question is Jack asked Jill to marry him, and she has accepted under one condition: Jack must buy her a new $330,000 Rolls-Royce Phantom. Jack currently has $45,530 that he may invest. He has found that pays 4.5% annual interest in which he will place the money. How long will it take Jack to win Jill's hand in marriage?
This is what I plug in: PV=-45,530, FV= 330,000, i=4.5%.
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