Question: Struggling with this one, please try and show step by step so I understand! 7. Now you have $20,000 in your savings account in which

Struggling with this one, please try and show step by step so I understand!

7. Now you have $20,000 in your savings account in which you earn 7% with quarterly compounding (m=4). The purchase price of a Mustang is expected to be $28,000 in the future when you buy it. How long will it be before you have enough money to buy a year's Mustang? ila

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