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Assume you deposit $23000 in a saving account. If the interest rate is 12% per year, compounded monthly, how long, in years, will it take

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Assume you deposit $23000 in a saving account. If the interest rate is 12% per year, compounded monthly, how long, in years, will it take you to reach a balance of $56000 ? Present your answer as a whole number to two decimals (including any reference to years), e.g. 1.23 years ( 25% marks will be deducted if the years reference is not provided)

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