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You receive a $4,000 check from your grandparents for graduation. You decide to save it toward a down payment on a house. You invest
You receive a $4,000 check from your grandparents for graduation. You decide to save it toward a down payment on a house. You invest it earning 9% per year and you think you will need to have $8,000 saved for the down payment. How long will it be before the $4,000 has grown to $8,000? To double the money you received from your grandparents, it will take years. (Round to one decimal place.)
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Business Math
Authors: Cheryl Cleaves, Margie Hobbs, Jeffrey Noble
10th edition
133011208, 978-0321924308, 321924304, 978-0133011203
