Jack estimates he will need $25,000 to startup a coffee

Last updated: 7/27/2022

Jack estimates he will need $25,000 to startup a coffee stand. If he has $10,000 to invest in a savings plan that earns 3% interest compounded monthly, how long will it take to reach the $25,000 he needs to start his business? Setup an equation and solve. Label your answer and round to one decimal place.