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Answered

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:

Answer :

The answer is 7573
Explanation:
8320= P(1+0.019)^5
8320=1.09867924P
P=8320/1.09867924
P=7572.72887
P=7573

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