You’re trying to save to buy a new €170,000 Ferrari. You have €40,000 today that can be invested at your bank. The bank pays 5 per cent annual interest on its accounts. Required: How long will it be...

You’re trying to save to buy a new €170,000 Ferrari. You have €40,000 today that can be invested at your bank. The bank pays 5 per cent annual interest on its accounts.

Required:

How long will it be before you have enough to buy the car?(Round your answer to 2 decimal places (e.g. 32.16).)

The length of time

Jun 05, 2022

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