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.)

Answer rating: 100% (QA)

Lets use the formula for compound interest A P1 rnnt Where A the future value a... View the full answer