Luanne wants to have $3275 in her bank account in 10 years. how much money should she deposit if her account earns 7.5% interest which is compounded every month?
a. $1589.01
b. $2159.45
c. $1921.53
d. $1550.62

For the answer to the question above, This is the other way round. Since you're given the answer (3275), work backward by dividing it by 1.075 ten times. (it's 1.075 because you're adding 7.5% to 100% which is 107.5% or 1.075): 

3275 / 1.075 etc 10 times = 1589.01
I hope this helps