Math Problem Statement
find the annual interest rate required to achieve 10,000 in savings if you plan to invest 1500 for 25 years. assume your interest is compounded annually.
Solution
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Math Problem Analysis
Mathematical Concepts
Compound Interest
Exponential Growth
Formulas
A = P(1 + r)^t
Theorems
Compound Interest Formula
Suitable Grade Level
Grades 10-12
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