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Olivia purchased a small store for $ 3 0 0 , 0 0 0 . The seller agreed to accept annual payments of $ 5

Olivia purchased a small store for $300,000. The seller agreed to accept annual payments of $50,000 at an interest rate of 8 percent. How many years will it take Olivia to pay for this purchase? (Round your answer to two decimal places.)
Multiple choice question.
8.50
8.05
6.00
6.48

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