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You currently have $ 6 , 4 0 0 ( Present Value ) in an account that has an interest rate of 7 % per

You currently have $

6, 400 (

Present Value

)

in an account that has an interest rate of

7 %

per year compounded annually

(1

times per year

) .

You want to withdraw all your money when it reaches $

14, 080 (

Future Value

) .

In how many years will you be able to withdraw all your money?

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