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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 the required amount
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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 the required amount

User Ilce
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8.3k points

1 Answer

7 votes

Answer:

4 years

Step-by-step explanation:

It takes 4 years to accumulate the required amount.

User Radium
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8.8k points
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