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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
Problem 1: The sum of money Hector originally invested is closest to
A. $355 000
B. $370 000
C. $377 000
D. $384 000
E. $385 000
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