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Jack must buy a new $ 3 3 0 , 0 0 0 Rolls Royce Phantom. Jack currently has $ 2 9 , 2 8

Jack must buy a new $330,000Rolls Royce Phantom. Jack currently has $29,280 that he may invest. He has found a mutual fund with an expected annual return of 7 percent in which he will place the money. How long will it take Jack to afford the car? Ignore taxes and inflation.

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