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OpenStudy (anonymous):
Whitney deposited money into an account in which interest is compounded quarterly at a rate of 2.9%. She made no other deposits or withdrawals and the total amount in her account after 12 years was $10,891.31. How much did she deposit?
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ganeshie8 (ganeshie8):
use present value formula
ganeshie8 (ganeshie8):
\(\large PV = \frac{FV}{(1+i)^{nt}}\)
ganeshie8 (ganeshie8):
figure out the values and plugin
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