Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. kim invested a sum of money 7 yr ago in a savings

Kim invested a sum of money 7 yr ago in a savings account that has...

90.2K

Verified Solution

Question

Finance

Kim invested a sum of money 7 yr ago in a savings account that has since paid interest at the rate of 6.5%/year compounded monthly. Her investment is now worth $15,742.39. How much did she originally invest? (Round your answer to the nearest cent.)

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Identify ON M 7x 12 L 23 26 O 12 P N 3x 8

Geometry
Q

Elaborate on the chemical digestion of fats, including specific enzymes.                               

Medical Sciences
Q

A cylinder has a base diameter of 20in and a height of 17in. What is...

Basic Math
Q

Find the value of the expression (x-4)/3 x when x = 5.1.41.01.1

Basic Math
Q

n and Question Identify the explanatory variable and the response var A golfer wants to...

Statistics
Q

Let f(y) = (2y^2 + 2y + 2)(y-2)Determine the value(s) of y, if any, for...

Calculus
Q

17 A hot air balloon rises vertically as a rope attached to the base of...

Calculus
Q

Use ordinary division of polynomials to find the quotient and remainder.(b2-3b-28)(b + 2)Choose the correct...

Calculus
Q

Snow-Tech Inc. sells an Xpert ski that is popular with ski enthusiasts. The following information...

Accounting
Q

Chee Chew's portfolio has a beta of 1.25 and earned a return of 13.9% during...

Accounting
Q

For the year ended December 31, 2020, the job cost sheets of DeVoe Company contained...

Accounting
Q

Using the Smith's BBQ Report, the cost of Wine for next week will increase by...

Accounting