Question
You're trying to save to buy a new $200,000 BMW 3 series sedan. You have $50,000 today that can be invested at your bank. The
You're trying to save to buy a new $200,000 BMW 3 series sedan. You have $50,000 today that can be invested at your bank. The bank pays 4.9% annual interest on its accounts. How long will it be before you have enough to buy the car? (Do not round intermediate calculations and round your final answer to 2 decimal places.)
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Financial and Managerial Accounting the basis for business decisions
Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello
16th edition
