You want to buy your dream car, but you are $5,000 short. If you could invest your

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You want to buy your dream car, but you are $5,000 short. If you could invest your entire savings of $2,350 at an annual interest of 12%, how long would you have to wait until you have accumulated enough money to buy the car?

a. 9.40 years

b. 3.48 years

c. 7.24 years

d. 6.66 years

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Fundamentals of Financial Management

ISBN: 978-0324664553

Concise 6th Edition

Authors: Eugene F. Brigham, Joel F. Houston

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Question Posted: Jun 15, 2012 08:14 AM

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