Question
Sally puts $1,200 into a savings account at the end of every year to save for a car. The account pays interest of 7% per
Sally puts $1,200 into a savings account at the end of every year to save for a car. The account pays interest of 7% per year. She needs $24,168.77 for the car. How many years does it take for the account balance to accumulate to the value of the car?
Answer: 13
Please show all work and don't use excel
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Managerial Accounting
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
13th edition
978-1285868806, 1285868803, 978-1305691254, 978-1305465640, 1305465644, 978-1285866307
