Bernie Invested a Sum of Money 7 Year(s) Ago in a Savings

question 96

Multiple Choice

Bernie invested a sum of money 7 year(s) ago in a savings account, which has since paid interest at the rate of 8% / year compounded quarterly. His investment is now worth $22,927.66. How much did he originally invest? Round your answer to the nearest cent. ​

• A) $12,924.83
• B) $13,169.06
• C) $13,006.24
• D) $13,087.65
• E) $13,250.47

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Definitions:

LSD

Lysergic acid diethylamide, a powerful hallucinogenic drug known for altering perception and causing hallucinations.

Regular Users

Individuals who consistently utilize a service, product, or platform on a frequent and routine basis.

Motor Coordination

The ability of different parts of the body to work together smoothly and efficiently.

Psychoactive Drug

A substance that chemically alters the brain's activity, leading to changes in how one perceives, feels, is conscious of, thinks about, or acts upon things.