Question: You are saving for a down payment for an apartment, so you deposited $15,000 into an investment offering a 5.5% return, compounding annually. To buy
You are saving for a down payment for an apartment, so you deposited $15,000 into an investment offering a 5.5% return, compounding annually. To buy the place you want, you need $22,000. How many years must you wait to buy the apartment? Select one: a. 7.27 years b. 7.00 years c. 6.86 years d. 7.31 years e. 7.15 years
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