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  • 25-11-2022
  • Business
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David has a bank account which pays interest at the rate of 1.5% per year, compounded annually. Determine what amount David must have in the bank, given that he would like to draw an annual salary of $32,635.15 from his account at the end of each year for 30 years. Round to the nearest cent.
$783,760.48

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