Go to www.moneychimp.com and find the Compound Interest calculator. You want to buy a Lamborghini Murcilago. Assume
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Go to www.moneychimp.com and find the “Compound Interest” calculator. You want to buy a Lamborghini Murciélago. Assume the price of the car is $330,000 and you have $35,000. If you can earn an 11 percent return, how long must you wait to buy this car (assuming the price stays the same)?
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We know FV PV1rn Here FV 330000 PV 35000 and r ...View the full answer
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Mahmudul Hassan
I obtained my BBA and MBA from the Finance Department of Jagannath University. I have a tremendous interest in financial modeling as well as qualitative analysis and valuation. I have 5 years of experience in school-level and college-level teaching.
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Related Book For 
Essentials Of Corporate Finance
ISBN: 9780073382463
7th Edition
Authors: Stephen Ross, Randolph Westerfield, Bradford Jordan
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