You receive a 11000 check from your grandparents for, Financial Management

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You receive a 11000 check from your grandparents for

You receive a $11,000 check from your grandparents for graduation. You decide to save it toward a down payment on a house.

You invest it earning 5?% per year and you think you will need to have $22,000 saved for the down payment.

How long will it be before the $11,000 has grown to $22,000 ?

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Financial Management: You receive a 11000 check from your grandparents for

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Financial Management: You receive a 11000 check from your grandparents for

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