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Amount of money originally put in the account

Problem: Your great aunt Matilda put some money in an account for you on the day you were born. This account pays 8% interest per year. On your 21st birthday the account balance was $5,033.83.

The amount of money that your great aunt Matilda originally put in the account is closest to:

A. $1,200
B. $800
C. $600
D. $1,000

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Finance Basics: Amount of money originally put in the account

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