Answered

Welcome to Westonci.ca, where curiosity meets expertise. Ask any question and receive fast, accurate answers from our knowledgeable community. Discover in-depth solutions to your questions from a wide range of experts on our user-friendly Q&A platform. Connect with a community of professionals ready to provide precise solutions to your questions quickly and accurately.

A couple needs $60,000 as a down payment for a home. If they invest the $45,000 they have at 4% compounded quarterly, how long will it take for the money to grow to $60,000

Sagot :

Answer:

7 years

Explanation:

45000(1.01)^28= roughly 60,000

28/4 (quarters) = 7 years

Thank you for visiting our platform. We hope you found the answers you were looking for. Come back anytime you need more information. Thank you for choosing our platform. We're dedicated to providing the best answers for all your questions. Visit us again. Westonci.ca is your trusted source for answers. Visit us again to find more information on diverse topics.