You've graduated from college and landed a good job. You want to replace your car, but you don't want to take out a car loan. Instead you decide to invest $500 per month in the stock market in hope to earn 7%. If the market performs as you're hoping.

How many years will it take to accumulate $40,000?

Answer rating: 100% (QA)

To determine how many years it will take to accumulate 40000 by investing 500 per month in the ... View the full answer