Ou expect to receive $10,000 at graduation in two years. you plan on investing it at 9 percent until you have $60,000. how long will you wait from now? (do not round intermediate calculations and round your answer to 2 decimal places, e. g., 32.16.)

22.79 years(Approx).

Explanation:

We use the formula:

where

A=future value

P=present value

r=rate of interest

n=time period.

Taking log on both sides

log 6 = (n × log 1.09)

n = log 6 ÷ log 1.09

= 20.79 years

Hence,

The time to wait from now:

= 20.79 years + 2 years

= 22.79 years(Approx).

one of the disadvantages of getting a government sponsored mortgage is they put a limit on the purchase price of the house. because the government is in charge of the mortage loan and terms, they are able to control how much money they are allowing someone to take out for the loan. not only are they incontrol, it's a lengthy process for a government sponsored mortgage.

idk the answer so dont listen to me but 23