Question: Jane started to work this August. Since she received her first salary at the beginning of August, she has been deposited $1,500 in a special
Jane started to work this August. Since she received her first salary at the beginning of August, she has been deposited $1,500 in a special account. She will insist doing so once she receives her salary. She is paid every 2 weeks (half month). The interest rate is 4.1%. She plans to a buy a three-bedroom house in this city, which is about $600,000. The down payment is 20% of the house price. Please estimate for her how many years later the balance in this saving account is enough to pay the down payment of the new house.
Group of answer choices
74.35 years
3.12 years
3.15 years
75.2years
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