Rodrigo opened a savings account 3 years ago. The account earns 10% interest, compounded quarterly. If the current balance is $200.00, how much did he deposit initially?

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asked Dec 16, 2021 2.5k views

2 votes

Rodrigo opened a savings account 3 years ago. The account earns 10% interest, compounded

quarterly. If the current balance is $200.00, how much did he deposit initially?

Mathematics
middle-school

Nick Yap asked

by Nick Yap

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1 Answer

5 votes

Answer:

A = P(1 + r/n)nt

P =

$148.71

Sandeep Tawaniya answered Dec 20, 2021

by Sandeep Tawaniya

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