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You have $10,000 that you can invest in a savings account that earns 7% interest, compounded annually. If you want to withdraw at least $18,000 at some point in the future, how long will you need to keep the money invested? (Future Value of $1, Present Value of $1, Future Value Annuity of $1, Present Value Annuity of $1.) (Use appropriate factor from the PV tables. Round your final answer to nearest dollar amount.)

Multiple Choice

• 12 years

• 11 years

• 10 years

• 9 years