Question
You want to invest $38,000 today to accumulate $42,770 to buy a car. If you can invest at an interest rate of 3% compounded annually,
You want to invest $38,000 today to accumulate $42,770 to buy a car. If you can invest at an interest rate of 3% compounded annually, how many years will it take to accumulate the required amount?
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Financial Accounting and Reporting
Authors: Barry Elliott, Jamie Elliott
18th edition
1292162406, 978-1292162409
