(Answered) Youre trying to save to buy a new 150000 ferrari you have

Management Studies

You're trying to save to buy a new $150,000 Ferrari. You have $35,000 today that can be invested at your bank. The bank pays 3.2 percent annual interest on its accounts.

Required:

How long will it be before you have enough to buy the car? (Enter rounded answer as directed, but do not use rounded numbers in intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)

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