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How long will take to have enough money

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Problem 1: You want to have $20,000 after your graduation and currently have $17,000 saved. If you can earn 8%, how long will it take you to reach your goal without saving any additional money?

Problem 2: You want to buy an apartment. You currently have $15,000 but you need $25,000 for the down payment. If you earn 6.7% per year, how long will it take to have enough money for the down payment?

Reference no: EM133005990

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