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anonymous

  • 5 years ago

if $500,000 is to be saved over 25 years, how much should be deposited annually if the investment earns 7% interest compounded annually?

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  1. anonymous
    • 5 years ago
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    500,000 = C[1+0.07]^25 C = 500,000 / (1.07)^25

  2. anonymous
    • 5 years ago
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    So I have to multiply 500,00 (1.07) to the 25th power? How do I solve that?

  3. anonymous
    • 5 years ago
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    by using calculator

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