Will i have enough power in this setup
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Solved by DailyProcrastinator,
Yes, a 500W PSU provides enough wattage, I have an R7 1700 and a RX580 8GB powered by a 450W PSU, max draw of my system is around 340W so you will be fine. That said I recommend a PSU upgrade to a higher quality unit in the near future. PSU voltage ripple can permanently damage components for good, better off spending a bit now versus replacing expensive components later.
Refer to the PSU tier list linked below. I recommend tier C or higher, Corsair CX unit is usually found on the cheap end and is a good PSU.
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