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With a goal of purchasing one of the coveted trips to space offered by Ivanhoe, you deposit $58,000 in an account today that earns 10% compounded annually. You estimate the price tag for a trip to space to be $234,000. Using the NPER function in Excel or a financial calculator, determine how long it will take you to accumulate enough money to purchase a ticket. (Do not round intermediate calculations. Round final answer to 2 decimal places, eg, 15.25.) Number of periods years

With a goal of purchasing one of the coveted trips to space offered by Ivanhoe, you deposit $58,000 in an account today that earns 10% compounded annually. You estimate the price tag for a trip to space to be $234,000. Using the NPER function in Excel or a financial calculator, determine how long it will take you to accumulate enough money to purchase a ticket. (Do not round intermediate calculations. Round final answer to 2 decimal places, eg, 15.25.) Number of periods years

Essentials Of Investments
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
Section: Chapter Questions
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With a goal of purchasing one of the coveted trips to space offered by Ivanhoe, you deposit $58,000 in an account today that earns 10% compounded annually. You estimate the price tag for a trip to space to be $234,000. Using the NPER function in Excel or a financial calculator, determine how long it will take you to accumulate enough money to purchase a ticket. (Do not round intermediate calculations. Round final answer to 2 decimal places, e.g. 15.25.) Number of periods years
Transcribed Image Text:With a goal of purchasing one of the coveted trips to space offered by Ivanhoe, you deposit $58,000 in an account today that earns 10% compounded annually. You estimate the price tag for a trip to space to be $234,000. Using the NPER function in Excel or a financial calculator, determine how long it will take you to accumulate enough money to purchase a ticket. (Do not round intermediate calculations. Round final answer to 2 decimal places, e.g. 15.25.) Number of periods years
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