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You expect to receive $20,000 at graduation one year from now. you plan on investing it at 6 percent until you have $100,000. how long will you wait from now?

You expect to receive $20,000 at graduation one year from now. you plan on investing it at 6 percent until you have $100,000. how long will you wait from now?
asked 28.8k views
3 votes
You expect to receive $20,000 at graduation one year from now. you plan on investing it at 6 percent until you have $100,000. how long will you wait from now?

asked
User Dandean
by
7.5k points

1 Answer

6 votes
The answer will be $120,000
answered
User Avinash
by
7.1k points
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