Question
You need $15,000 to make down payment for a house, but have only $4,000, which you can invest at 12% compounded annually. How many years
You need $15,000 to make down payment for a house, but have only $4,000, which you can invest at 12% compounded annually. How many years will you have to wait to buy the house?
| A. | 7.72 years | |
| B. | 16.17 years | |
| C. | 9.69 years | |
| D. | 14.20 years | |
| E. | 11.66 years | |
| F. | 12.23 years |
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Corporate Finance Principles And Practice
Authors: Denzil Watson, Tony Head
1st Edition
0273630083, 978-0273630081
