Bernie invested a sum of money 7 year(s) ago in a savings account, which has since paid interest at the rate of 8% / year compounded quarterly. His investment is now worth $22,927.66. How much did he originally invest? Round your answer to the nearest cent.
A) $12,924.83
B) $13,169.06
C) $13,006.24
D) $13,087.65
E) $13,250.47

Question

Bernie invested a sum of money 7 year(s) ago in a savings account, which has since paid interest at the rate of 8% / year compounded quarterly. His investment is now worth $22,927.66. How much did he originally invest? Round your answer to the nearest cent. ​
A) $12,924.83
B) $13,169.06
C) $13,006.24
D) $13,087.65
E) $13,250.47

Quizplus · Accepted Answer

The Answer of Bernie invested a sum of money 7 year(s) ago in a savings account, which has since paid interest at the rate of 8% / year compounded quarterly. His investment is now worth $22,927.66. How much did he originally invest? Round your answer to the nearest cent. ​
A) $12,924.83
B) $13,169.06
C) $13,006.24
D) $13,087.65
E) $13,250.47

Bernie Invested a Sum of Money 7 Year(s) Ago in a Savings