To help with her retirement savings, Donna has decided to invest. Assuming an interest rate of 3.59% compounded quarterly, how much would she have to invest to have $117,300 after 18 years?

We get the value of Principal amount i.e initial investment = $61640

Step-by-step explanation:

Interest rate r = 3.59% or 0.0359

Compounded quarterly n = 4

Future Amount A = 117,300

Time t = 18 years

We need to find initial investment i,e Principal Amount P

The formula used is:

Putting values and finding P

So, We get the value of Principal amount i.e initial investment = $61640

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step-by-step explanation: