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Emma just graduated and started her new job. Unfortunately, she lives 30 minutes away from where she works, and she currently is borrowing a car
Emma just graduated and started her new job. Unfortunately, she lives 30 minutes away from where she works, and she currently is borrowing a car from a friend. Her next goal is to get her own car as soon as possible. She earns $3,250 dollars each month of which she puts aside 15% in her savings account dedicated to her new car at the end of each month. Her dream car costs $13,500. How many years will it take her to have enough money to purchase the car if she can earn 6% on her savings account annually. (Round to the nearest hundredth of year)
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