You want to save $25,000 for a down payment on a house. Bank A offers to pay

Question:

You want to save $25,000 for a down payment on a house. Bank A offers to pay 9.35% per year if you deposit $11,000 with them, while Bank B offers 8.25% per year if you invest $10,000 with them. How long will you have to wait to have the down payment accumulated under each option?
Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

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