Your answer is in the picture.
Okay
1 yes and yes
2 yes and no
3 no and yes
You will need to use this formula:
Principal = Total ÷ (1 + Rate) ^ <span>years
</span><span>Principal = 35,000 / [1.08]^4
</span><span><span><span>Principal = 35,000 / 1.36048896
</span>
</span>
</span>
Principal =
<span>
<span>
<span>
25,726.04
</span>
</span>
</span>
So, you would have to deposit $25,762.04 @ 8 per cent to have 35,000 in four years.
