Question
You're trying to save up to buy a new $210,000 Ferrari. You have $35,000 to deposit in your bank today. The bank pays 4.2 percent
You're trying to save up to buy a new $210,000 Ferrari. You have $35,000 to deposit in your bank today. The bank pays 4.2 percent annual interest on its accounts.
How long will it take before you have enough money to buy the car? (Do not round up intermediate calculations and round your answer to 2 decimal places, for example, 32.16.)
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Foundations of Financial Management
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen, Doug Short, Michael Perretta
10th Canadian edition
1259261018, 1259261015, 978-1259024979
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