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March 26, 2017

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Ben deposits $5000 now into an account that earns 7.5 percent interest compounded annually. He then deposits $1000 per year at the end of the first and second years.

How much will the account contain 10 years after the initial deposit?

  • Economics - ,

    Multiply $5000 by 10 years

  • Economics - ,

    10,000

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