The value of the consumer price index increased from 140 to 147 during 2006. Nathan opened a bank account at the beginning of 2006, and at the end of 2006 his account balance was $12,840. Assuming no other transactions during the year. The purchasing power of Nathan’s account increased by 2 percent during the year. How much did Nathan deposit when he opened his account?

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03-07-2024
Business

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The value of the consumer price index increased from 140 to 147 during 2006. Nathan opened a bank account at the beginning of 2006, and at the end of 2006 his account balance was $12,840. Assuming no other transactions during the year. The purchasing power of Nathan’s account increased by 2 percent during the year. How much did Nathan deposit when he opened his account?

Sagot :

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