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You've graduated from college and landed a good job. You want to replace your car, but don't want to take out a car loan. Instead,
You've graduated from college and landed a good job. You want to replace your car, but don't want to take out a car loan. Instead, you decide to invest
$200 per month in the stock market and hope to earn 8%. If the market performs as you're hoping, how many years will it take to accumulate $35,000?
Ignore taxes.
Monthly Payment ($) | 200 | |
Growth Rate (%) | 8 | |
Future Value ($) | 35,000 | |
Number of Years = | nothing | (Round to two decimal places.) |
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