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How many months would it take to reach this objective

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Reference no: EM131710711

Supposing you just graduated from WSU and got a nice high paying job with a finance company, you are planning to buy a lexus car that sells for %55,000. Your plan is to accumulate 20%down payment for the car by making monthly payments of $600 in an account that promises to earn at an annual rate of 12%. How many months would it take to reach this objective?

Reference no: EM131710711

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