Question
Mr. Bowland wants to save $18,000 to purchase a new car.He places $50 a day in a special savings account earning 6.8% interest.How long will
Mr. Bowland wants to save $18,000 to purchase a new car.He places $50 a day in a special savings account earning 6.8% interest.How long will it be before he has saved $18,000? P/YR = 365
This is an ordinary annuity, so no "BEGIN" on the calculator
a.348.474 years
b. 348.474 days
c. 216.9 years
d. 216.9 days
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International Financial Management
Authors: Cheol Eun, Bruce G. Resnick
8th edition
125971778X, 978-1259717789
