Mathematics, 28.10.2020 20:50 kaliyah91
You started saving for a car when you were in middle school. You have done some research and discovered that it will cost you about $8,000 for a used car that would fit your needs. You were encouraged to invest some of your savings to help you get to your financial goal faster. So far you have saved $6,500. If you invest this money in a savings account with a 1.4% interest rate compounded annually, how long will it take to earn enough money to go purchase the car? Use the compound interest formula A = P (1 + i)n, where A is the accumulated amount, P is the principal, i is the interest rate per year, and n is the number of years. Round your final answer to the nearest tenth
Answers: 2
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You started saving for a car when you were in middle school. You have done some research and discove...
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