Question
Misaki has $26,290 in her savings account and wants this to accumulate to $100,000 for a condominium down payment. Suppose she plans to make deposits
Misaki has $26,290 in her savings account and wants this to accumulate to $100,000 for a condominium down payment. Suppose she plans to make deposits of $1,670 at the beginning of every three months into this account which earns 5.12% compounded monthly. How long will it take to accumulate the $100,000?
Choose calculator mode: Select an answer END BGN Enter the future value as a positive value in the FV box below. Enter PV and PMT as positive or negative values based on FV being positive. Report N as a whole number.
P/Y = |
C/Y = |
N = |
I/Y = |
PV = $ |
PMT = $ |
FV = $ |
Report your answer in years and months as whole numbers below. If years is an exact integer like "7 years", then enter 7 for years and 0 for months. You must enter a value in both boxes for full marks. It will take years and months.
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