You can afford monthly deposits of $260 into an account that pays 4.2% compounded monthly. How...

Question

Question

You can afford monthly deposits of $260 into an account that pays 4.2% compounded monthly. How long will it be until you have

business finance

Answer 1

Answer #1

Number of months have been calculated as follows:-

=NPER(rate,pmt,pv,fv)

=NPER(4.2%/12,-260,,8800)

=32.04 months or 33 months

Answer 2

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