Jane Martin-Smith and her husband deposited $500 in an account on their wedding day and each subsequent anniversary. The money w
as deposited in an account that pays 7 percent compounded annually. How much will they have on their 25th anniversary?
2 answers:
Answer:
On their 25th anniversary, their account will have $850
Step-by-step explanation:
7% per year for 25 years is 170%
170% of 500 is 850
I hope this helps!
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