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Business, 14.04.2020 21:57 mimas76

A person who is self-employed, contributes $5000 a year into a Keogh account by depositing $2500 in the account on January 1st and $2500 on July 1st every year. How much will he have in the account after 25 years if the account earns interest at the rate of 8.5% per year compounded semiannually?

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