Savings account at bank and made an initial deposit

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Reference no: EM13885297

You opened a savings account at a bank and made an initial deposit. The account pays 8% interest compounded annually. You made no additional deposits and in exactly one year you close the account and take out off of the money. The balance at the time you closed the account was $388.80. How much was the original deposit?

Reference no: EM13885297

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