Question
You receive 3,000 check from your grandparents for graduation. You decide to save it toward a down payment on a house. You invest it earning
You receive 3,000 check from your grandparents for graduation. You decide to save it toward a down payment on a house. You invest it earning 12% per year and you think you will need to have $6,000 saved for the down payment. How long will it be before the $3,000 had grown to 6,000 ?
Round to one decimal place.
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Practical Financial Management
Authors: William R. Lasher
7th edition
128560721X, 9781133593669, 1133593682, 9781285607214, 978-1133593683
