des Tevlew 1o How long would it take to accumulate 5397 give

des Tevlew (1o How long would it take to accumulate $5397 given monthly savings of $737 and interestrate of 7.1% pa. compounding monthly? (keep your answer in months) Answer: Finish attempt...

Solution

Using financial calculator

PMT=737

FV=-53977

I/Y=7.1%/12

PV=0

CPT N=96.28

Hence, it will take 96.28 months