Rhoda is saving up money for a down payment on a condominium. She currently has $5311, but knows she can get a loan at a lower

Question

Rhoda is saving up money for a down payment on a condominium. She currently has $5311, but knows she can get a loan at a lower interest rate if she can put down $6084. If she invests the $5311 in an account that earns 3.6 % annually. compounded quarterly, how long will it take Rhoda to accumulate the $6084? Round your answer to two decimal places, if necessary.

Kunduz · Accepted Answer

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