Saved for the down payment

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Reference no: EM131011678

You receive a $12,000 check from your grandparents for graduation. You decide to save it toward a down payment on a house. You invest it earning 9% per year and you think you will need to have $24,000 saved for the down payment. How long will it be before the $12,000 grows to $24,000? (in years, round to one decimal place)

Reference no: EM131011678

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