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You are hoping to purchase a house in the future and recently received an inheritance of 100,000 SAR. You like to use your inheritance for
You are hoping to purchase a house in the future and recently received an inheritance of 100,000 SAR. You like to use your inheritance for a down payment for the house. a. If you use your inheritance in an account that generates 6% returns compounded annually, how many years will it take before your money grows to 750,000SAR? b. If you let your money grow for 15 years at 8%, how much will you have in your account?
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