Anthony invested a sum of money 4 yr ago in a savings account that has since paid interest at the rate of 9%/year compounded quarterly. His investment is now worth $22,841.96. How much did he originally invest? Please round the answer to the nearest cent.
$ __________
Correct Answer:
Verified
Q50: Find the interest rate needed for an
Q51: In order to help finance the purchase
Q52: Find the simple interest on a $500
Q53: The Kwans are planning to buy a
Q54: Investment A offers a 9% return compounded
Q56: Determine whether the statement is true or
Q57: The future value of an annuity can
Q58: Determine whether the statement is true or
Q59: From age 25 to age 40, Jessica
Q60: Five and a half years ago, Chris
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents