Question
You're trying to save to buy a new $160,000 Ferrari. You have $41,000 today that can be invested at your bank. The bank pays 5.5
| You're trying to save to buy a new $160,000 Ferrari. You have $41,000 today that can be invested at your bank. The bank pays 5.5 percent annual interest on its accounts. How long will it be before you have enough to buy the car? |
Multiple Choice
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25.93 years
-
25.43 years
-
25.18 years
-
25.68 years
-
23.43 years
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Foundations Of Financial Management
Authors: Stanley Block
8th Canadian Edition
0070965447, 9780070965447
