Harpreet—s parents deposited a lump sum of money into a savings account for him on his tenth birthday at an interest rate of 5% compounded semi-annually. Three years later, they opened a new account for him. They deposited $5000 to this new account and transferred over the balance from the original account. The new account paid interest at 4.95% compounded daily. How much money was originally invested if Harpreet had $15 000.67 in the account on the day he turned 19?

Guest Jul 26, 2021