Discover the answers you need at Westonci.ca, where experts provide clear and concise information on various topics. Get quick and reliable answers to your questions from a dedicated community of professionals on our platform. Discover detailed answers to your questions from a wide network of experts on our comprehensive Q&A platform.

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:


Sagot :

The answer is 7573
Explanation:
8320= P(1+0.019)^5
8320=1.09867924P
P=8320/1.09867924
P=7572.72887
P=7573
We hope our answers were helpful. Return anytime for more information and answers to any other questions you may have. Thanks for using our service. We're always here to provide accurate and up-to-date answers to all your queries. Thank you for visiting Westonci.ca, your go-to source for reliable answers. Come back soon for more expert insights.