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You have $ 5 0 , 0 0 0 in savings for retirement in an investment earning a stated annual rate of 5 % compounded
You have $ in savings for retirement in an investment earning a stated annual rate of compounded semiannually. You aspire to have $ in savings when you retire. Assuming you add no more to your savings, how many years will it take to reach your goal?
Please round your answer to the nearest hundredth.
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