Pablo has $4200 to invest. Pablo's goal is to have $5000 after 4 years. Is this possible if he invests with a rate of return of 6%?

4200 * 1.06 = 4452. 4452 * 1.06 = 4719.12. 4719.12 * 1.06 = 5002.27
It would only take 3 years to reach $5000.

Answered by maxpelic | 2024-06-10

He would get $5208 after 4 years. ;

Answered by eudora | 2024-06-12

Pablo can indeed reach his goal of having $5000 after 4 years by investing $4200 at a 6% rate of return. He will earn $1008 in interest, resulting in a total of $5208 by the end of the investment period. Thus, Pablo surpasses his goal comfortably.
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Answered by eudora | 2024-10-01