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You receive a Christmas bonus from your employer of $500. You know you want to buy a car down the road, and you think
You receive a Christmas bonus from your employer of $500. You know you want to buy a car down the road, and you think you'll need $2,000 for a down payment. You invest the full amount today and are confident that you can earn an average of 7% annual interest. How many years will you have to wait until your account grows to $2,000?
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