Robin, who is self-employed, contributes $6500/year into a Keogh account. How much will he have in the account after 25 years if the account earns interest at the rate of 7.5%/year compounded yearly? (Round your answer to the nearest cent.) $

Calculus For The Life Sciences
2nd Edition
ISBN:9780321964038
Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Chapter2: Exponential, Logarithmic, And Trigonometric Functions
Section2.1: Exponential Functions
Problem 53E: Interest Ron Hampton needs to choose between two investments: One pays 6% compounded annually, and...
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Robin, who is self-employed, contributes $6500/year into a Keogh account. How much will he have in the account after 25 years if the account earns interest at the rate of 7.5%/year
compounded yearly? (Round your answer to the nearest cent.)
$
Transcribed Image Text:Robin, who is self-employed, contributes $6500/year into a Keogh account. How much will he have in the account after 25 years if the account earns interest at the rate of 7.5%/year compounded yearly? (Round your answer to the nearest cent.) $
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