You can afford monthly deposits of $170 into an account that pays 3.3% compounded monthly. How...

Question

Question

You can afford monthly deposits of $170 into an account that pays 3.3% compounded monthly. How long will it be until you have $11,600 to buy a boat?

Answer 1

Answer #1

1 monthly saving |170 2 interst rate 3.30% 3 monthly rate 0.275% 4 boat cost 11600 5 period to buy the boat 62.62 months 5 ye

Answer 2

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