Question: Jada deposited an amount of money in a bank 4 years ago. If the bank had been paying interest at the rate of 7%/year compounded

Jada deposited an amount of money in a bank 4 years ago. If the bank had been paying interest at the rate of 7%/year compounded daily (assume a 365-day year) and she has $12,000 on deposit today, what was her initial deposit? (Round your answer to the nearest cent.)

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