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You want to invest $37,000 today to accumulate $41,650 to buy a car. If you can invest at an interest rate of 3% compounded annually, how many years will it take to accumulate t…

You want to invest $37,000 today to accumulate $41,650 to buy a car. If you can invest at an interest rate of 3% compounded annually, how many years will it take to accumulate t…
asked 26.8k views
5 votes
You want to invest $37,000 today to accumulate $41,650 to buy a car. If you can invest at an interest rate of 3% compounded annually, how many years will it take to accumulate the required amount

asked
User Ilce
by
8.4k points

1 Answer

7 votes

Answer:

4 years

Step-by-step explanation:

It takes 4 years to accumulate the required amount.

answered
User Radium
by
9.0k points
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