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Calculating the Number of Periods: you're trying to save to buy a new $ 2 7 5 , 0 0 0 ferrari. You have $

Calculating the Number of Periods: you're trying to save to buy a new $

275, 000

ferrari. You have $

50, 000

today that can be invested at your bank. The bank pays

4.8

percent annual interest on its account. How long will it be before you have enough to buy the car?

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