Dao-ming has $5000 in his savings account and wants this to accumulate to $25,000 for a condominium

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Dao-ming has $5000 in his savings account and wants this to accumulate to $25,000 for a condominium down payment. He plans to deposit $2000 at the beginning of every three months into the account. If the account pays 5.8% compounded quarterly, how long will it take to accumulate the amount?

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Mathematics Of Business And Finance

ISBN: 9781927737545

4th Edition

Authors: Larry Daisley, Thambyrajah Kugathasan, Diane Huysmans

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