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  2. Topic
    Mathematics
  3. Study Set
    Precalculus
  4. Exam
    Exam 4: Exponential Functions, Logarithms, and E
  5. Question
    Suppose That a Bank Account Paying 6% Interest Per Year
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Suppose That a Bank Account Paying 6% Interest Per Year

Question 22

Question 22

Short Answer

Suppose that a bank account paying 6% interest per year, compounded 4 times per year, contains $7,733 at the end of 14 years. What was the initial amount deposited in the bank account? Round your answer to the nearest cent.

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