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QUESTION 9 Doug invests a sum of money in a retirement account with an annual interest rate of 7% compounded quarterly. After 10 years,

QUESTION 9 Doug invests a sum of money in a retirement account with an annual interest rate of 7% compounded quarterly. After 10 years, the balance reaches 11,008.79. What was the amount of the initial investment? For the toolbar press ALT+F10 (PC) or ALT+FN+F10 (Mac).

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