4,515 views
40 votes
40 votes
Jan has an investment account which compounds interest annually at a rate of 1.9%. After 5 years, she has $8320 in the

account. How much money did she initially place in the account? Round your answer to the nearest whole number. Do not
include a s in your answer.
Provide your answer below:

User Mmd
by
3.1k points

1 Answer

25 votes
25 votes
The answer is 7573
Step-by-step explanation:
8320= P(1+0.019)^5
8320=1.09867924P
P=8320/1.09867924
P=7572.72887
P=7573
User Jonathan Musso
by
3.0k points