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8 November, 06:49

How much money would need to be deposited into an account earning 5.75% interest compounded annually in order for the accumulated value at the end of 25 years to be $85,000?

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  1. 8 November, 08:41
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    I will assume you are using compound interest.

    let the amount invested be x

    x (1.0575) ^25 = 85000

    x = 85000/1.0575^25 = $21,009.20
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