Mathematics, 10.02.2021 19:00 smartcookie8251
A recent college graduate decides they would like to have $20, 000 in five years to make a down payment on a home.
(a) How much money will they need to invest today in order to have $20, 000 in five years, given that they can invest at an annual interest rate of 4%?
(b) What interest rate would the investment need to have if they invest $5000 and would like to have $20,000 in 5 years? (Round your answer to the nearest hundredth)
Answers: 3
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A recent college graduate decides they would like to have $20, 000 in five years to make a down paym...
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