You have saved $1,200 for a used motorcycle that has a current price of $1,500
If your money is sitting in an account earning 2.50% per year, how long will it take for this account to grow to $1,500? Note: The motorcycle's price may have changed by the time your account reaches a value of $1,500.
A) 9.04 months
B) 9.04 years
C) 4.25 years
D) 4.25 months
Answer: B
Explanation: B) n = = = 9.04 years
MODE = END
INPUT ? 2.5 -1,200 0 1,500
KEY N I/Y PV PMT FV
CPT 9.04
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