Your grandfather will sell you a piece of beachfront

property for $70,000. He says the price is firm

whenever you can pay him cash. You know your

finances will only allow you to save $6,000 a year

and you can make 6% on your investment. If you

invest faithfully every year at the end of the year,

how long will it take for you to accumulate the

necessary $70,000 future cash for the beachfront

property?