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Robert is hoping to buy an oceanfront vacation/retirement home and figures he will need $171,783 for the down payment and closing costs. He earns 4.85
Robert is hoping to buy an oceanfront vacation/retirement home and figures he will need $171,783 for the down payment and closing costs. He earns 4.85 percent on his investments compounded annually. If he can save $2,030 at the beginning of each year, how long will it take him to reach his goal?
Round the answer to two decimal places.
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