solution

Misaki has $26,290 in her savings account and wants this to accumulate to $100,000 for a condominium down payment. Suppose she plans to make deposits of $1,670 at the beginning of every three months into this account which earns 5.12% compounded monthly. How long will it take to accumulate the $100,000?

Choose calculator mode: Select an answer END BGN
Enter the future value as a positive value in the FV box below.
Enter PV and PMT as positive or negative values based on FV being positive.
Report N as a whole number.

P/Y =
C/Y =
N =
I/Y =
PV = $
PMT = $
FV = $

Report your answer in years and months as whole numbers below.
If years is an exact integer like “7 years”, then enter 7 for years and 0 for months.
You must enter a value in both boxes for full marks.
It will take years and months.

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