In addition to the money from your parent to help you buy, Finance Basics

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In addition to the money from your parent to help you buy

Question: In addition to the money from your parent to help you buy your dream car, you will still need $5000. If you can invest your entire savings of $2,350 now at an annual interest of 12%, how long would you have to wait until you have accumulated enough money to buy the car under annual compounding?

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Finance Basics: In addition to the money from your parent to help you buy

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