A savings account paying 3% continuously compounded interest has $1600 after 8 years. How much was initially deposited? A) $630 I B) $1159 C) $1020 D) $1259 19) Southwest Dry Cleaners believes that it will need new equipment in 7 years. The equipment will cost $26,000. What lump sum should be invested today at 5% compounded semiannually, to yield $26,000? A) $18,400.91 B) $21,837.73 C) $21,974.26 D) $23,680.18 20) Barbara knows that she will need to buy a new car in 6 years. The car will cost $15,000 by then. How much should she invest now at 8%, compounded quarterly, so that she will have enough to buy a new car? A) $11,854.72 B) $10,208.75 C) $8752.36 D) $9325.80