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TVM
Present Value (PV):
Future Value (FV):
Interest Rate (I%, annual):
Number of Periods (n):
Compounding per Year (C/Y):
Payment (PMT):
Calculate
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You currently have \(\dollar 5\,000\) saved in an account that pays \(3.8\pourcent\) p.a., compounded monthly. You want to buy a house that costs \(\dollar 100\,000\).
How long would it take you to save \(\dollar 100\,000\)?
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months (round to the nearest month)
Do you think it will be practical to wait this long before buying a house?
Yes
No
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