Answer:
$62,127.51
Explanation:
To find out how much must be deposited today into an account with a 5.7% APR compounded annually to achieve a balance of $135,000 in 14 years, we can use the compound interest formula.
Compound Interest Formula

where:
- A is the account balance.
- P is the principal amount invested.
- r is the interest rate (in decimal form).
- n is the number of times interest is applied per year.
- t is the time (in years).
In this case:
- A = $135,000
- r = 5.7% = 0.057
- n = 1 (annually)
- t = 14 years
Substitute the given values into the formula and solve for P:







Therefore, the amount that must be deposited is $62,127.51 (rounded to the nearest cent).