Bart, 19, received $1000 from his grandparents as a birthday present. He wants to use this money
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Bart, 19, received $1000 from his grandparents as a birthday present. He wants to use this money to purchase a new $1200 mountain bike. Since he does not have enough money, Bart has decided to invest his $1000 in a TFSA that pays interest at 2.50 percent per annum. How long will Bart have to wait before he has enough money to purchase the mountain bike?
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Initial Principal Amount invested in TFSA P 1000 The final amount requiredto buy the bike A 1200 The ...View the full answer
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