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QUESTION
You have just deposited X dollars in your bank account that pays interest of 20 percent p. You discover that at the end of one year you have $23,695...
You have just deposited X dollars in your bank account that pays interest of 20 percent p.a. You discover that at the end of one year you have $23,695 in the account. What was X, that is, the amount of money that you deposited today?
