Thomas Nguyen currently has $10,000 in the bank earning interest of 6 percent per year, compounded monthly.
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Thomas Nguyen currently has $10,000 in the bank earning interest of 6 percent per year, compounded monthly. If he needs $25,000 to purchase a car and can save an additional $100 a month stating at the end of this month, how long will it take him to accumulate the $25,000?
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Monthly payment CF 100 Present Value PV 10000 Future Value FV 25000 Annual rate ...View the full answer
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Related Book For
Fundamentals of Corporate Finance
ISBN: 978-1118845899
3rd edition
Authors: Robert Parrino, David S. Kidwell, Thomas W. Bates
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