Question
Suppose you are committed to owning a $250,000 Ferrari and you have $100,000 now. If you believe your mutual fund can achieve a 12 percent
Suppose you are committed to owning a $250,000 Ferrari and you have $100,000 now. If you believe your mutual fund can achieve a 12 percent annual rate of return and you are able to save $1000 per month, how long you will have to wait for buying the car?
| A. | 3.5 years | |
| B. | 4.7 years | |
| C. | 5.3 years | |
| D. | 8.6 years |
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Focus On Personal Finance
Authors: Jack Kapoor, Les Dlabay, Robert J. Hughes
2nd Edition
0073530638, 9780073530635
