Question: Douglas is saving up money for a down payment on a condominium. He currently has $3156, but knows he can get a loan at

Douglas is saving up money for a down payment on a condominium.

Douglas is saving up money for a down payment on a condominium. He currently has $3156, but knows he can get a loan at a lower interest rate if he can put down $3931. If he invests the $3156 in an account that earns 5 % annually, compounded quarterly, how long will it take Douglas to accumulate the $3931? Round your answer to two decimal places, if necessary. Answer Keypad

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