supposee you start saving today for a $8000 down payment that you plan to make on a condo in 4 years. Assume that you make no de
posits into the account after your initial deposit. The account has quarterly compounding and an APR of 6%. How much would you need to deposit now to reach your $8000 goal in 4 years
where A is the $8000 goal to reach after 4 years, P is the initial amount needed to deposit, r is the APR and n is the time in years. WE need to solve for P:
