Question
You would like to start saving money for a down payment on your future dream house. If you have $12,000 now and you'd like to
You would like to start saving money for a down payment on your future dream house. If you have $12,000 now and you'd like to reach a goal of $24,000, how long would it take to reach your goal if you can get a 10% annual average rate of return?
Please write/type out the equation and solve it using either a calculator or Google Sheets/Excel. You can also use the Excel/Google Sheets built-in formulas (FV, PV, RATE, and NPER) to check your answers.
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Managerial Accounting Tools for business decision making
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
5th edition
470506954, 471345881, 978-0470506950, 9780471345886, 978-0470477144
