Steven put money into an account six years ago that earns an annual interest rate of 8% compounded quarterly. The account currently has $55,000 in it. How much money did Steven's investment six years ago

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter9: Sequences, Probability And Counting Theory
Section: Chapter Questions
Problem 29RE: Alejandro deposits $80 of his monthly earnings into an annuity that earns 6.25% annual interest,...
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Steven put money into an account six years ago that earns an annual interest rate of 8% compounded quarterly. The account currently has $55,000 in it. How much money did Steven's investment six years ago

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