Isaac only has $1,090 today but needs $1,979 to buy a new computer.How long will he have to wait to buy the computer if he earns 5.4 percent compounded annually on his savings? Assume the price of the computer remains constant.
A)11.83 years
B)11.48 years
C)12.51 years
D)12.77 years
E)11.34 years

Question

Quizplus · Accepted Answer

The Answer of Isaac only has $1,090 today but needs $1,979 to buy a new computer.How long will he have to wait to buy the computer if he earns 5.4 percent compounded annually on his savings? Assume the price of the computer remains constant.
A)11.83 years
B)11.48 years
C)12.51 years
D)12.77 years
E)11.34 years

Isaac Only Has $1,090 Today but Needs $1,979 to Buy