Question

Jane Martin-Smith and her husband deposited $500 in an account on their wedding day and each subsequent anniversary. The money was deposited in an account that pays 7 percent compounded annually. How much will they have on their 25th anniversary?

Answer 1

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!

Answer 2

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