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When you graduate from high school, you deposit all of your graduation cash into an account earning 5% interest. Ten years from now you will have $5000 in that account. How much money did you deposit?
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When you graduate from high school, you deposit all of your graduation cash into an account earning 5% interest. Ten years from now you will have

$5000 in that account. How much money did you deposit?

User Yhager
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If it’s 5% interest per year, then you deposited $2500. If it’s 5% interest total over the total 10 years, then you deposited $4750
User Dan Lenski
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