Solve for the unknown number of years in each of the following: (Do not round intermediate...
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Solve for the unknown number of years in each of the following: (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) Present Value $ 650 900 19,300 22,400 Years Interest Rate 9 % 10 % 17% 15 % Future Value $ 1,742 2,205 350,008 508,354 You're trying to save to buy a new $202,000 Ferrari. You have $52,000 today that can be invested at your bank. The bank pays 6 percent annual interest on its accounts. How long will it be before you have enough to buy the car? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Number of years Solve for the unknown number of years in each of the following: (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) Present Value $ 650 900 19,300 22,400 Years Interest Rate 9 % 10 % 17% 15 % Future Value $ 1,742 2,205 350,008 508,354 You're trying to save to buy a new $202,000 Ferrari. You have $52,000 today that can be invested at your bank. The bank pays 6 percent annual interest on its accounts. How long will it be before you have enough to buy the car? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Number of years
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Quantitative Analysis for Management
ISBN: 978-0132149112
11th Edition
Authors: Barry render, Ralph m. stair, Michael e. Hanna
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