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You expect to receive $44,000 at graduation in two years. You plan on investing it at 10 percent until you have $179,000. How long will you wait from now

You expect to receive $44,000 at graduation in two years. You plan on investing it at 10 percent until you have $179,000. How long will you wait from now
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You expect to receive $44,000 at graduation in two years. You plan on investing it at 10 percent until you have $179,000. How long will you wait from now

asked
User Cancerian
by
8.5k points

1 Answer

3 votes
Based on a few calculations..

it will take—probably like 9.8 years to reach $179,000 by investing $44,000 at 10% interest.
answered
User Garry Taylor
by
7.9k points
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