Ron would like to have at least $150,000 saved to buy a condo. If he invests $50,000 in an account paying 6.19% interest compounded quarterly, will he reach his goal in 15 years? Show answer and include appropriate units

Answer 1

50000(1+.069/4)^(4*15) = 139518
so he'll be short.

Answer 2

Thanks Steve!