Question: You have saved $10,000 towards a down payment on a home. The money is invested in an account earning 7% interest. You will be ready

You have saved $10,000 towards a down payment on a home. The money is invested in an account earning 7% interest. You will be ready to purchase the new home once your savings account grows to $25,000.

Approximately how many years will it take for the account to reach $25,000?

If the interest rate is doubled to14%, how many years will pass before you reach your $25,000 target.

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