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Find the sum of money hector originally invested

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Question - Twenty years ago, Hector invested a sum of money in an account earning interest at the rate of 3.2% per annum, compounding monthly.

After 10 years, he made a one-off extra payment of $10 000 to the account.

For the next 10 years, the account earned interest at the rate of 2.8% per annum, compounding monthly.

The balance of his account today is $686 904.09

Find the sum of money Hector originally invested?

A. $355,000

B. $370,000

C. $377,000

D. $384,000

E. $385,000

Reference no: EM132986707

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