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Suppose that when you turned 16, you look to have saved/invested enough to buy your dream car. Your dream car cost you $32,000 brand new.
Suppose that when you turned 16, you look to have saved/invested enough to buy your dream car. Your dream car cost you $32,000 brand new. If the value of the car depreciates continuously at a rate of 7% per year and you decide to invest $150 into an account each month that collects 4.5% interest, how long will it take for you to have saved up enough to buy your dream car?
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