John wants to buy a new TV with a price of $1,979. However, he only has $1,090 with him today. His savings account earns a return of 5.2%. Assuming that the price of TV will not change, how long will John have to wait to be able to buy this TV?
Group of answer choices
You have just taken a home equity loan for $82,500 payable in equal monthly payments over the next 25 years. The appropriate rate of interest charged is 4.75% compounded monthly.