I now have $24,000 in the bank earning interest of .75% per month. I need $34,000 to make a down payment on a house. I can save an additional $100 per month. How long will it take me to accumulate the $34,000? (Do not round intermediate calculations. Round your answer to 2 decimal places. Use a financial calculator or Excel.) Time required months

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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I now have $24,000 in the bank earning interest of .75% per month. | need $34,000 to make a down payment on a house. | can save an additional $100 per month. How long will it take me to accumulate the $34,0007 (Do not round intermediate calculations. Round your answer t0 2 decimal places. Use a financial calculator or Excel.) Time required months
I now have $24,000 in the bank earning interest of .75% per month. I need $34,000 to make a down payment on a house. I can save an
additional $100 per month. How long will it take me to accumulate the $34,000? (Do not round intermediate calculations. Round your answer
to 2 decimal places. Use a financial calculator or Excel.) Time required months
Transcribed Image Text:I now have $24,000 in the bank earning interest of .75% per month. I need $34,000 to make a down payment on a house. I can save an additional $100 per month. How long will it take me to accumulate the $34,000? (Do not round intermediate calculations. Round your answer to 2 decimal places. Use a financial calculator or Excel.) Time required months
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