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How long will it take you to save the planned amount

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Reference no: EM132986647

Question - You plan to save money for a down payment of $33,000 to purchase an apartment. You can only afford to save $6,000 at the end of every 6 months into an account that earns interest at 6.50% compounded monthly. How long will it take you to save the planned amount? Express the answers in years and months, rounded to the next payment period.

Reference no: EM132986647

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