a bank account currently has a balance of $7,400 dollars. if the initial deposit was made four years ago, and the interest rate is 5% apr compounded monthly, what was the initial deposit?

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07-10-2022
Business

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a bank account currently has a balance of $7,400 dollars. if the initial deposit was made four years ago, and the interest rate is 5% apr compounded monthly, what was the initial deposit?

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