Your father invested a lump sum 26 years ago in an account earning 5.0% annual interest compounded

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Your father invested a lump sum 26 years ago in an account earning 5.0% annual interest compounded annually. Today he gave you the proceeds of that investment, which totaled $50,000. How much did your father originally invest?

$15,920.12

$14,776.67

$14,062.04

$13,383.22

$12,738.38

Related Book For answer-question

Mathematical Applications for the Management Life and Social Sciences

ISBN: 978-1305108042

11th edition

Authors: Ronald J. Harshbarger, James J. Reynolds

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Posted Date: Feb 06, 2024 05:02 AM

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Your father invested a lump sum 26 years ago in an account earning 5.0% annual interest compounded

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Mathematical Applications for the Management Life and Social Sciences

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