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Does mike have enough money in that account for the back

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A Vancouver home renovation firm has quoted a price of $9,800 to fix Mike's back yard. Five years ago, Mike left $7,500 in an account that has earned an average of 5.25% per year.

Problem 1: Does Mike have enough money in that account for the back yard fix-up? Please show and explain your calculations.

Reference no: EM132960798

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