Paul is saving for a down payment to buy a house. The account earns 13% interest compound quarterly, and he wants to have $15,000 in 4 years. What must his principal be? Round your answer to the nearest cent. Do not round at any point in solving process; only round your answer. Please help ASAP!! Thank you so much!

The principal required is $ 8993.

Using the formula;

A = P(1 + r/n)^nt

Where;

P = principal = ?

r = rate = 0.13

n = Number of times the interest is compounded = 4

t = time = 4years

Amount = $15,000

15,000 = P(1 +  0.13/4)^4(4)

15,000 = P(1.668)

P = 15,000/1.668

P =$ 8993

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The principal must be = $8991.88

Step-by-step explanation:

Formula for compound interest is:

Where A is the amount after 't' years.

P is the principal amount

n is the number of times interest is compounded each year.

r is the rate of interest.

Here, we are given that:

Amount, A = $15000

Rate of interest = 13 % compounded quarterly i.e. 4 times every year

Number of times, interest is compounded each year, n = 4

Time, t = 4 years.

To find, Principal P = ?

Putting all the given values in the formula to find P.

So, the principal must be = $8991.88

in mathematics, a constraint is a condition of an optimization problem that the solution must satisfy. there are several types of constraints—primarily equality constraints, inequality constraints, and integer constraints. the set of candidate solutions that satisfy all constraints is called the feasible set.

hoped i'm right lol

step-by-step explanation:

a cube has 6 sides

the probability of getting 5 on the first cube is 1/6 since only one side of the cube has 5 on it.

there are 3 sides of the cube with even number on it [2,4,6]

therefore the probability of getting even number is 3/6

for both events to happen together, the probability would be

1/6 x 3/6 = 12/36

which simplifies to 1/12