An investment has grown to $89,000 over a 6-year period. The interest was computed daily and the rate was 7 3/8% per year. What was the original investment?

Question

Anonymous · Answer

X(1+.07375/365)^6*365=89,000 X(1+.000202)^2,190=89,000 X(1.000202)^2,190=89,000 X*1.556=89,000 X=89,000/1.556 X=$57,197.94 WAS THE ORIGINAL INVESTMENT

tutor4142 atgmail · Answer

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