You want to save $360,000 to buy your first home. You deposit $90,000 in a bank at an interest rate of 6% per year. How many years do you have to wait before you can buy a house?

Question

Mathematics

Evelin Hartman

9 May, 21:00

You want to save $360,000 to buy your first home. You deposit $90,000 in a bank at an interest rate of 6% per year. How many years do you have to wait before you can buy a house?

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Alan Melendez · Answer 1

So you would earn 5400 dollars a year. But you have to start at 900000 so you would have to subtract 360000 by 90000 and that would be 270000 you would have to wait 52 years