Question: You are interested in saving to buy a new machine that costs $387,120. You can deposit $32,805 in your bank today. If your bank pays

You are interested in saving to buy a new machine that costs $387,120. You can deposit $32,805 in your bank today. If your bank pays 14% annual interest on its accounts, how long will it take you to save for the new machine?
About 19 years
About 5 years
About 12 years
Can not be determined

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