Youre trying to save to buy a new 195000 ferrari you have, Financial Management

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Youre trying to save to buy a new 195000 ferrari you have

You're trying to save to buy a new $195,000 Ferrari. You have $45,000 today that can be invested at your bank. The bank pays 5.3 percent annual interest on its accounts.

How long will it be before you have enough to buy the car? (Do not round intermediate calculations and round your final answer to 2 decimal places, e.g., 32.16.)

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Financial Management: Youre trying to save to buy a new 195000 ferrari you have

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