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Jamal Knight purchased a plot of raw land for $25,000 this week. His real estate agent is confident the land will appreciate at an average
Jamal Knight purchased a plot of raw land for $25,000 this week. His real estate agent is confident the land will appreciate at an average annual compound rate of 14.72% per year. Jamal wants to sell the land for $75,000. Approximately how many years must he own the property to receive $75,000 when he sells it?
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