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Mathematics, 06.04.2020 01:18 mstrish71oteauw
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 $15,000 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 $10,000. If you invest this money in a savings account with a 3% 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
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