Let's assume that the price of a new jeep will always be 200,000. You only have 77,520. How many years will it take for your initial investment to grow 200,000 if it is invested at 9% compounded annually? Question for N:N=I/Pr How many years will it take before the money I have saved will be enough to buy a second car? How long will it be to accumulate enough money for a down payment of a condominium unit?

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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Let's assume that the price of a new jeep will always be 200,000. You only have 77,520. How many years will it take for your initial investment to grow 200,000 if it is invested at 9% compounded annually?

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How many years will it take before the money I have saved will be enough to buy a second car?

How long will it be to accumulate enough money for a down payment of a condominium unit?

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