Question
Kim invested a sum of money 4 yr ago in a savings account that has since paid interest at the rate of 7% /year compounded
Kim invested a sum of money4yr ago in a savings account that has since paid interest at the rate of7%/year compounded monthly. Her investment is now worth$19,830.81. How much did she originally invest? (Round your answer to the nearest cent.)
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Managerial Accounting for the Hospitality Industry
Authors: Lea R. Dopson, David K. Hayes
2nd edition
978-1-119-2996, 1119299659, 978-1119386223
