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The local Fire Department wants to take advantage of a state program to save money to purchase a new fire truck. The truck will cost

The local Fire Department wants to take advantage of a state program to save money to purchase a new fire truck. The truck will cost $400,000 and members of the finance committee estimate that with community and state contributions, they can save $5,500 per month in an ordinary annuity paying 10.3% annual interest. How long (in years) will it take to save for the truck?

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