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You want to save $36,000 to buy a new car. The annual interest rate is 18% compounded annually, and the minimum payment is $1500 per

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You want to save $36,000 to buy a new car. The annual interest rate is 18% compounded annually, and the minimum payment is $1500 per year. If you pay only the minimum payment each month and do not make any new charges on from the bank, how many years will it take for you to buy the new car

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