Anthony invested a sum of money 2 years ago in a savings account that has since paid interest at the rate of 2%/year compounded quarterly. His investment is now worth $25,789.88. How much did he originally invest? (Round your answer to the nearest cent.)
Anthony invested a sum of money 2 years ago in a savings account that has since paid interest at the rate of 2%/year compounded quarterly. His investment is now worth $25,789.88. How much did he originally invest? (Round your answer to the nearest cent.)
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 25PROB
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Anthony invested a sum of money 2 years ago in a savings account that has since paid interest at the rate of 2%/year compounded quarterly. His investment is now worth $25,789.88. How much did he originally invest? (Round your answer to the nearest cent.)
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