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A bank account pays 1.5% per year with annual compounding. You plan to deposit $25,000 per year for each of the next 5 years. If
A bank account pays 1.5% per year with annual compounding. You plan to deposit $25,000 per year for each of the next 5 years. If the first payment occurs 1 year from today, how much money will be in the account 5 years from now, immediately following your last deposit?
The answer is $128,806.67 - I just don't know how to get it.
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