Faisal has $12,000 in his savings account and can save an additional $3600 per year. If interest rates are 12%, how long will it take his savings to grow to $47,000?
A) 4.3 years
B) 6.3 years
C) 5.3 years
D) 7.3 years

Question

Quizplus · Accepted Answer

C) Calculate N using TVM keys: input 11ea84dc_f57d_1bd8_9a63_77a15b60dc75_TB1316_11_TB1316_11 interest 11ea84dc_f57d_1bd9_9a63_a99b7720e01a_TB1316_11_TB1316_11 , 11ea84dc_f57d_1bda_9a63_5100bb0f10e6_TB1316_11_TB1316_11 11ea84dc_f57d_1bdb_9a63_81438a321309_TB1316_11_TB1316_11

Faisal Has $12,000 in His Savings Account and Can Save