You deposit money into a savings account which offers a rate of 5.75% compounded weekly. five years later you find that it contains $20,200. How much money did you originally deposit into the account?

You deposit money into a savings account which offers a rate of 5.75% compounded weekly. five years later you find that it contains $20,200. How much money did you originally deposit into the account?

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 24P

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