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You currently have $3,100 (Present Value) in an account that has an interest rate of 7.5% per year compounded monthly (12 times per year). You
You currently have $3,100 (Present Value) in an account that has an interest rate of 7.5% per year compounded monthly (12 times per year). You want to withdraw all your money when it reaches $6,820 (Future Value). In how many years will you be able to withdraw all your money?
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