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kirza4 [7]
3 years ago
6

You're trying to save to buy a new $196,000 Ferrari. You have $46,000 today that can be invested at your bank. The bank pays 5.4

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 final answer to 2 decimal places, e.g., 32.16.)
Business
1 answer:
katovenus [111]3 years ago
4 0

Answer:

It will take 27.56 years to gain $196,000.

Explanation:

Giving the following information:

Future value (FV)= $196,000

Present value (PV)= $46,000

Interest rate= 5.4% = 0.054

<u>To calculate the time required to reach the objective, we need to use the following formula:</u>

n= ln(FV/PV) / ln(1+i)  

n= ln(196,000/46,000) / ln(1.054)

n= 27.56

It will take 27.56 years to gain $196,000.

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You credit inventory because you are taking away from it by returning the goods.

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Answer:

What is a power grid?

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Explanation:

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Answer:

The interpretation of the discussion is characterized throughout the interpretation section elsewhere here.

Explanation:

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Students who live on campus and purchase a meal plan are randomly assigned to one of three dining halls: the Commons, Northeast,
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Answer:

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