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Rafael currently has $16,500 saved and plans to make annual savings contributions of $8,200. His first annual contribution is expected later today. Rafael expects to
Rafael currently has $16,500 saved and plans to make annual savings contributions of $8,200. His first annual contribution is expected later today. Rafael expects to earn 7.94 percent per year. How many contributions of $8,200 does Rafael need to make in order to have $320,000? Round your answer to 2 decimal places (for example, 2.89, 14.70, or 6.00).
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