Mak is saving $350 per month. Current interest rates are 3.1% compounded quarterly. How long will...
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Mak is saving $350 per month. Current interest rates are 3.1% compounded quarterly. How long will it take Mak to save $20,000? Mak is saving $350 per month. Current interest rates are 3.1% compounded quarterly. How long will it take Mak to save $20,000?
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We can use the formula for compound interest to solve this problem A P1 rnnt Where A the amoun... View the full answer
Related Book For
Fundamentals Of Financial Management
ISBN: 9781111795207
11th Edition
Authors: Richard Bulliet, Eugene F Brigham, Brigham/ Houston
Posted Date:
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