You receive a $8,000 check from your grandparents for graduation You decide to save it toward a down payment on a house. You vest it earning 12% per year and you think you will need to have $16,000 saved for the down payment. How long will it be before the $8.000 has grown to $15,000? Cars To double the money you received from your grandparents, it will take 580 years (Round to one decimal place)
You receive a $8,000 check from your grandparents for graduation You decide to save it toward a down payment on a house. You vest it earning 12% per year and you think you will need to have $16,000 saved for the down payment. How long will it be before the $8.000 has grown to $15,000? Cars To double the money you received from your grandparents, it will take 580 years (Round to one decimal place)
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
ChapterA3: Time Value Of Money
Section: Chapter Questions
Problem 7CE
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