i got 25.158823 is this correct 5. You're trying to save to buy a new $195,000...

Question

Question

i got 25.158823 is this correct

Answer 1

Answer #1

Calculating using the N function in a financial calculator,

punch in: I/Y =5.3%, PV =-45000, FV=195000

The answer will be 28.3936

Or calculate in excel using the NPER function as follows:-

=NPER(rate,pmt,pv,fv)

=NPER(5.3%,,-45000,195000)

=28.3936

Answer 2

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