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Assume that you wish to save $ 8 , 5 0 0 for your future wedding. If the interest rate you can earn on your

Assume that you wish to save $

8, 500

for your future wedding. If the interest rate you can earn on your savings is

5.50 %

per year and you make payments of $

350

into your savings account at the end of each month, how many years will it take you to reach your savings target?

Note: Report your answers as the number of years rounded to two decimal places.

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