-19/25 if you simply it by 4
Hi there
The formula is
A=p (1+r/k)^kn
A future value 3000
P present value?
R interest rate 0.04
T time 5years
K compounded quarterly 4
We need to solve for p
P=A÷(1+r/k)^kn
P=3,000÷(1+0.04÷4)^(4×5)
P=2,458.6 round your answer to get
P=2459 this the amount should be deposited
Good luck!
I = p r t
I = 315(.015)(3) = 14.18
Add interest to the principle.
$315. + 14.18 = $329.18
Answer: 97
Step-by-step explanation: