Question
Anthony invested a sum of money 2 years ago in a savings account that has since paid interest at the rate of 3%/year compounded quarterly.
Anthony invested a sum of money 2 years ago in a savings account that has since paid interest at the rate of 3%/year compounded quarterly. His investment is now worth $21,289.88. How much did he originally invest? (Round your answer to the nearest cent.)
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Quantitative Financial Risk Management
Authors: Constantin Zopounidis, Emilios Galariotis
1st Edition
1118738187, 978-1118738184
