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Bernie Invested a Sum of Money 7 Year(s) Ago in a Savings

Question 156

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Bernie invested a sum of money 7 year(s) ago in a savings account, which has since paid interest at the rate of 8% / year compounded quarterly. His investment is now worth $24,204.54. How much did he originally invest? Round your answer to the nearest cent. Bernie invested a sum of money 7 year(s) ago in a savings account, which has since paid interest at the rate of 8% / year compounded quarterly. His investment is now worth $24,204.54. How much did he originally invest? Round your answer to the nearest cent. $__________ $__________

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