You're trying to save to buy a new $$225,000$ Ferrari. You have $$45,000$ today that can be

invested at your bank. The bank pays $4\mathrm{.}8$ percent annual interest on its accounts. How

long will it be before you have enough to buy the car?

Future value

$ $225,000$

Present value

$ $45,000$

Interest rate

$4\mathrm{.}8\%$

Complete the following analysis. Do not hard code values in your calculations.

Number of years