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Mathematics 11 Online
OpenStudy (anonymous):

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

OpenStudy (anonymous):

500,000 = C[1+0.07]^25 C = 500,000 / (1.07)^25

OpenStudy (anonymous):

So I have to multiply 500,00 (1.07) to the 25th power? How do I solve that?

OpenStudy (anonymous):

by using calculator

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