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Number of Periods of an Annuity You have $56,827.72 in a brokerage account, and you plan...

Number of Periods of an Annuity You have $56,827.72 in a brokerage account, and you plan to deposit an additional $7,000 at the end of every future year until your account totals $450,000. You expect to earn 10.6% annually on the account. How many years will it take to reach your goal? Round your answer to two decimal places.

__________years

You want to buy a car, and a local bank will lend you $20,000. The loan would be fully amortized over 5 years (60 months), and the nominal interest rate would be 8% with interest paid monthly. What is the monthly loan payment? Do not round intermediate calculations. Round your answer to the nearest cent.
$ _______

What is the loan's EFF%? Round your answer to two decimal places.
%________

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