Multiple Choice
Anthony invested a sum of money 4 yr ago in a savings account that has since paid interest at the rate of 8%/year compounded quarterly. His investment is now worth $20,591.80. How much did he originally invest? Please round the answer to the nearest cent.
A) $15,000.01
B) $14,500.01
C) $16,000.01
D) $13,500.01
E) $17,000.01
Correct Answer:
Verified
Correct Answer:
Verified
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