Marina deposited $1800 into an investment earning 6.4% compounded quarterly. When her investment is worth $2000, she

Question:

Marina deposited $1800 into an investment earning 6.4% compounded quarterly. When her investment is worth $2000, she will withdraw the money and make a down payment on a car. Rounded to the nearest month, how long will Marina wait until she will have a sufficient down payment to purchase the car?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question
Question Posted: