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Mathematics 16 Online
OpenStudy (anonymous):

Darlene Fine wants to have at least $50,000 in her savings account in 10 years. If her account pays 3.6% interest compounded annually, what should Darlene's initial investment be if she plans to keep the account without making deposits or withdrawals? Hint: Use the formula for annual compounding.

OpenStudy (anonymous):

What have you done so far? Where is the formula for annual compounding?

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