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Suppose that $5000 is placed in a savings account at an annual rate of 6%, compounded monthly. Assuming that no withdrawals are made, how long

Suppose that $5000 is placed in a savings account at an annual rate of 6%, compounded monthly. Assuming that no withdrawals are made, how long will it take for the account to grow to $7000? Do not round any intermediate computations, and round your answer to the nearest hundredth.

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