Youre trying to save to buy a new 180000 ferrari you have, Finance Basics

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Youre trying to save to buy a new 180000 ferrari you have

Question: You're trying to save to buy a new $180,000 ferrari. You have 29,000 today that can be invested at your bank. The bank pays 3.6 percent annual interest on its accounts. How long will it be before you have enough to buy the new car?

What variable are you solving for?

What are the known variables?

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Finance Basics: Youre trying to save to buy a new 180000 ferrari you have

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