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Find how many years will take to reach goal

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Question 1: You need to accumulate $10,000. To do so, you plan to make deposits of $1,050 per year - with the first payment being made a year from today - into a bank account that pays 11.44% annual interest. Your last deposit will be less than $1,050 if less is needed to round out to $10,000. How many years will it take you to reach your $10,000 goal? Round your answer up to the nearest whole number.

Reference no: EM132611035

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