You expect to receive $50,000 at graduation in one year on your 18th birthday. You have decided to invest it at 12 perce

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answerhappygod
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You expect to receive $50,000 at graduation in one year on your 18th birthday. You have decided to invest it at 12 perce

Post by answerhappygod »

You expect to receive $50,000 at graduation in one year on your
18th birthday. You have decided to invest it at 12 percent until
you have $400,000 to purchase some land and have a deposit for a
mortgage. How old will you be when you would have achieved your
goal?
A. 11.69 years
B. 10.69 years
C. 27 years and 8 months
D. 8.69 years
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