How many months will it take for an investment of $7,500 to grow to $23,000 if it is invested at 8% compounded semiannually?
Please round your answer to the second decimal (e.g. 0.00)
You want to buy a house within 3 years, and you are currently saving for the down payment. You plan to save $5,000 at the end of the first year, and you anticipate that your annual savings will increase by 10% annually there after. Your expected annual return is 7%. How much will you have for a down payment at the end of Year 3?