Answer:
$282.98
Step-by-step explanation:
For computing the principal amount we need to apply the present value function i.e to be shown in the attachment below:
Data provided that in question
Future value = $25,000
Rate of interest = 9%
NPER = 13 years × 4 quarters = 52 quarters
PMT = $0
The formula is shown below:
= -PV(Rate;NPER;PMT;FV;type)
So, after applying the above formula, the present value is $282.98
