Paul opens a savings account with $900. He deposits $550 per month. Assume that he does not withdraw money or make any additional deposits. a. How long will it take Paul to save $8,100? b. How long will it take Paul to save enough money for a $250,000 house? c. Explain why your answers to 6a and 6b make sense.
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Paul opens a savings account with $900. He deposits $550 per month. Assume that he does not withdraw money or make any additional deposits.
a. How long will it take Paul to save $8,100?
b. How long will it take Paul to save enough money for a $250,000 house?
c. Explain why your answers to 6a and 6b make sense.
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