Question
Faisal has$ 15000 in his savings account and can save an additional$ 4500 per year. If interest rates are 12%, how long will it take
Faisal has$ 15000 in his savings account and can save an additional$ 4500 per year. If interest rates are 12%, how long will it take his savings to grow to$50,000?
A.
5.5
years
B.
4.5
years
C.
6.5
years
D.
3.5
years
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Personal Finance
Authors: Jack Kapoor, Les Dlabay, Robert J. Hughes
7th Edition
0072866578, 9780072866575
