Bubba is saving up money for a down payment on a condominium. He currently has $2535,...

  

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Bubba is saving up money for a down payment on a condominium. He currently has $2535, but knows he can get a loan at a lower interest rate if he can put down $3303. If he invests the $2535 in an account that earns 4.2% annually, compounded quarterly, how long will it take Bubba to accumulate the $3303? Round your answer to two decimal places, if necessary. Bubba is saving up money for a down payment on a condominium. He currently has $2535, but knows he can get a loan at a lower interest rate if he can put down $3303. If he invests the $2535 in an account that earns 4.2% annually, compounded quarterly, how long will it take Bubba to accumulate the $3303? Round your answer to two decimal places, if necessary.

Answer rating: 100% (QA)

To solve this problem we can use the formula for compound interest A P1 rnnt where A the amount of m... View the full answer