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You've graduated from college and landed a good job. You want to replace your car, but don't want to take out a car loan. Instead,
You've graduated from college and landed a good job. You want to replace your car, but don't want to take out a car loan. Instead, you decide to invest
$500 per month in the stock market and hope to earn 9%. If the market performs as you're hoping, how many years will it take to accumulate
$15,000?
Ignore taxes.
Monthly Payment ($) | 500 |
|
Growth Rate (%) | 9 | |
Future Value ($) | 15,000 | |
Number of Years = |
Monthly Payment ($) | 500 | |
Growth Rate (%) | 9 | |
Future Value ($) | 15,000 | |
Number of Years = | nothing | (Round to two decimal places.) |
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