The calculator says 39 months
the formula, which is complicated, creates an equation which must be solved numerically
by iteration, and cannot be solved algebraically...
Jerry N.
asked • 12/15/20You can afford monthly deposits of $250 into an account that pays 2.7% compounded monthly. How long will it be until you have $10,000 to buy a boat?
You can afford monthly deposits of $250 into an account that pays 2.7% compounded monthly. How long will it be until you have $10,000 to buy a boat?
Type the number of months: ___________
(Round to the next-higher month if not exact.)
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