Question

29 years ago, James put some money into a savings account with 8% interest compounded quarterly (4 times a year). He just remembered it and saw that there was now $7328 in it. Find the original amount he invested.

Answer 1

$0.97

Explanation:

7328*100/108^(4*29)

a bunch of math later, with rounding...

0.97

*note-may be wrong