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Holly wants to accumulate at least $60,000 by depositing $2,000 at the end of every month into a fund that earns interest at 5.50% compounded

Holly wants to accumulate at least $60,000 by depositing $2,000 at the end of every month into a fund that earns interest at 5.50% compounded monthly.

a. How many deposits does he need to make to reach his goal?

Round to the next payment

b. How long will it take Holly to reach his goal?

years

months

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