A friend tells you she has saved for seven years and has a present sum...

70.2K

Verified Solution

Question

Accounting

A friend tells you she has saved for seven years and has a present sum of $30000, which she earned at the rate of 9.00% per year, compounded weekly. Determine the equivalent amount she had to start with seven years ago. The equivalent amount she had to start with seven years ago is $ _________

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