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Mario wants to take a trip that costs $4,750, but currently he only has $2,260 saved. If Mario invests this money at 7 percent compounded annually, how long will it take for his investment to grow to $4,750?

Mario wants to take a trip that costs $4,750, but currently he only has $2,260 saved. If Mario invests this money at 7 percent compounded annually, how long will it take for his investment to grow to $4,750?

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Using a calculator enter I Y 7 PV 2 260 PMT 0 and FV 4 750 comp…View the full answer


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CFIN

CFIN

ISBN: 978-1305666870

5th edition

Authors: Scott Besley, Eugene Brigham

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Question Details
Chapter # 4
Section: Problems
Problem: 20
Posted Date: January 31, 2020 09:51:18
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