Calculating the number of periodspresent value you are, Financial Management

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Calculating the number of periodspresent value you are

Calculating the Number of Periods/Present Value. You are trying to save to buy a new $28,000 Volkswagen. You have $5,000 today that can be invested at your bank. 5a. The bank pays 5.00% annual interest on its accounts. How long will it be before you have enough to buy the car? It will be _____years.

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