Todd currently has $5,000. what was the value of his money four years ago if he's earned 4 percent interest each year

If you would like to know what was the value of Todd's money four years ago, you can calculate this using the following steps:

104% of x is $5000
104/100 * x = 5000
x = 5000 * 100 / 104
x = $4807.69

104% of x is $4807.69
104/100 * x = 4807.69
x = 4807.69 * 100 / 104
x = $4622.78

104% of x is $4622.78
104/100 * x = 4622.78
x = 4622.78 * 100 / 104
x = $4444.98

104% of x is $4444.98
104/100 * x = 4444.98
x = 4444.98 * 100 / 104
x = $4274.02 = $4274

The correct result would be $4274.