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?

Question

07-03-2021
Mathematics

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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?

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