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if you save 25000 dollars a year and it grows by 1.06 % each year, how much will you have in 15 years
math
 Aug 12, 2014

Best Answer 

 #1
avatar+118723 
+5

Just use the compound interest formula

$$$FV=P(1+i)^n$\\
where n=15\\
i=1.06/100=0.0106\\
P=25000$$

 

You can take over from here.  

 Aug 12, 2014
 #1
avatar+118723 
+5
Best Answer

Just use the compound interest formula

$$$FV=P(1+i)^n$\\
where n=15\\
i=1.06/100=0.0106\\
P=25000$$

 

You can take over from here.  

Melody Aug 12, 2014

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