Problem 5-9 Calculating the Number of Periods [LO4] You're trying to save to buy a new $201,000 Ferrari. You have $51,00

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Problem 5 9 Calculating The Number Of Periods Lo4 You Re Trying To Save To Buy A New 201 000 Ferrari You Have 51 00 1 (26.88 KiB) Viewed 16 times

Problem 5-9 Calculating the Number of Periods [LO4] You're trying to save to buy a new $201,000 Ferrari. You have $51,000 today that can be invested at your bank. The bank pays 5.9 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 answer to 2 decimal places, e.g., 32.16.) Number of years Check