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
Answer: B
Mathematics
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