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Veseljchak [2.6K]

3 years ago

5

Mr. Smith wishes to retire in 13 years. When he retires he would like to have $300,000 in his bank account. Mr. Smith's bank pay

s 8% per year compounded annually. How much should he deposit now to attain his goal?

1 answer:

mel-nik [20]3 years ago

3 0

I believe he would need to deposit about $67,500

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