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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

$500 per month in the stock market and hope to earn 9%. If the market performs as you're hoping, how many years will it take to accumulate

$15,000?

Ignore taxes.

Monthly Payment ($)

500

Growth Rate (%)

9

Future Value ($)

15,000

Number of Years =

Monthly Payment ($)

500

Growth Rate (%)

9

Future Value ($)

15,000

Number of Years =

nothing

(Round to two decimal places.)

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