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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
$100 per month in the stock market and hope to earn 6%. If the market performs as you're hoping, how many years will it take to accumulate $40,000? Ignore taxes.
Monthly Payment ($) | 100 |
|
Growth Rate (%) | 6 | |
Future Value ($) | 40,000 | |
Number of Years = |
Monthly Payment ($) | 100 | |
Growth Rate (%) | 6 | |
Future Value ($) | 40,000 | |
Number of Years = |
| (Round to two decimal places.) |
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