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Suppose Brian deposits $45,000 into an account earning 6% interest, compounded monthly. If, in addition to the initial investment, Brian saves $600 each month, how
Suppose Brian deposits $45,000 into an account earning 6% interest, compounded monthly. If, in addition to the initial investment, Brian saves $600 each month, how many months will it take for him to save $67,000?
A. | 55 months |
B. | 66 months |
C. | 35 months |
D. | 25 months |
Below is my answer, please explain where i getting wrong and why.
PV 45,000 RATE 6% PMT 600 FV 67,000 NPER (6%,-600,-45000,67000) NPER 5.774473Step by Step Solution
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