PROBLEM 11 Mr.B invested a sum of money 5 years ago in a saving account that pays interest at the rate of 4%per year compounded quarterly. His investment now is worth $22,289.22.How much did he originally invest?
PROBLEM 11 Mr.B invested a sum of money 5 years ago in a saving account that pays interest at the rate of 4%per year compounded quarterly. His investment now is worth $22,289.22.How much did he originally invest?
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 1PROB
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PROBLEM 11
Mr.B invested a sum of money 5 years ago in a saving account that pays interest at the rate of 4%per year compounded quarterly. His investment now is worth $22,289.22.How much did he originally invest?
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