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20 April, 06:57

Kinsey deposited money into an account in which interest is compounded monthly at a rate of 3.1%. She made no other deposits of withdrawals and the total amount in her account after 5 years was $2685.08. how much did she deposit?

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  1. 20 April, 07:02
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    A=2,685.08: (1+0.031:12) ^ (12*5)

    =2,300.00
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