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Please answer quickly!!! You can afford monthly deposits of $170 into an account that pays 2.7%...

Please answer quickly!!! You can afford monthly deposits of $170 into an account that pays 2.7% compounded monthly. How long until you have $9,100 to buy a boat?

Type the number of months: ___

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Answer #1

Time until you can buy a boat:-

=NPER(rate,pmt,pv,fv)

=NPER(2.7%/12,-170,,9100)

=50.60 months

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