Answered

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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

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