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5. Jason is saving for a new TV. He currently has $1,200 in his account that earns 3%, compounded monthly, and the new TV costs $4,500. Assuming Jason deposits $100 in his account each month, how many months until his account has enough money to purchase the new TV

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Answer:

The question is not complete,find the complete question in the attached.

The correct option is 31 months

Explanation:

In determining the the number of months , I used the nper formula in excel which is given by =nper(rate,pmt,pv,-fv)

Find the attached detailed computation.

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