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You need $46,000 for a down payment on a house. You plan to make annual payments of $6,000 per year into an account earning 7.8%.

You need $46,000 for a down payment on a house. You plan to make annual payments of $6,000 per year into an account earning 7.8%. The deposits will be made at the end of each year. How many years will it take for you to save up the amount needed for the down payment?

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