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Valentin [98]
2 years ago
11

George is saving for a mortgage on a $125,000 house. He needs 20 percent for a down payment. He currently has $22,000. How long

will it take George to save the rest of the money when he earns 5 percent interest per year?
(This is an economics question)

Will it be 2years, 1year, 3years or 5years?
Mathematics
2 answers:
agasfer [191]2 years ago
8 0

Answer:

3 years

Step-by-step explanation:

Katarina [22]2 years ago
3 0
<span>George will have enough money in 3 years. This is because at 5 percent interest per year, in one year he will have $23,100. In two years, he will have $24,155. In 3 years he will have $25,362.75 which will put him slightly over his goal of a 20% down payment.</span>
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