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How much will mary have in the account at the end of year

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Beginning this year, Mary is planning to save $2,500 each year for the next six years to take a vacation to commemorate the seventh year of her career. Assuming the interest rate offered by her bank is 8 percent annually, how much will Mary have in the accountat the end of seven years? If Mary increases her savings to $3,500 annually, will this beenough to take care of her vacation which is estimated to cost $30,000.

Reference no: EM131799970

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