Multiple Choice
Anna has $15,000 to invest. She requires $25,000 for a down payment for a house. If she is able to invest at 6%, how many years will it be before she will accumulate the desired balance?
A) 6 years.
B) 7 years.
C) 8 years.
D) 9 years.
Correct Answer:

Verified
Correct Answer:
Verified
Related Questions
Q48: Dunston Company will receive $300,000 in a
Q49: Interest is the excess cash received or
Q50: What would you pay for an investment
Q51: Which of the following transactions would require
Q52: Under IFRS, the rate implicit in the
Q54: Maxim Company leased an office under a
Q55: Paula purchased a house for $300,000. After
Q56: The unknown present value is always a
Q57: Simple interest is computed on principal and
Q58: Sue Gray wants to invest a certain