How long will it take you to save up the amount you


Your younger brother wants to start his own business and you have agreed to help him fund his project by paying 20% of his initial expenses. You estimate that he will need $375,000 to start and your bank account earns 6% compounded annually. You have $15,000 in your bank account today. How long will it take you to save up the amount you need?

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Financial Management: How long will it take you to save up the amount you
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