You have $2,000 in your savings account, and want to buy a car for $30,000....
50.1K
Verified Solution
Link Copied!
Question
Finance
You have $2,000 in your savings account, and want to buy a car for $30,000.
If you are not depositing any new money into your account and the interest rate on your savings account is 7% per year, how many years do you have to wait before you can buy the car (1+ decimals)?
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!