Question
One month from now, Kelly will make her first monthly contribution of $250 to a Tax-Free Savings Account (TFSA). She expects to earn 6% compounded
One month from now, Kelly will make her first monthly contribution of $250 to a Tax-Free Savings Account (TFSA). She expects to earn 6% compounded annually. How long will it take for the contributions and accrued earnings to reach $65000?
It will take ___ months to reach $65000.
(Round the final answer up to the nearest month as needed. Round all intermediate values to six decimal places as needed.)
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Analysis For Financial Management
Authors: Robert Higgins
6th Edition
0071181172, 9780071181174
