Barbara knows that she will need to buy a new car in 4 years. The car will cost $15,000 by then. How much should she invest now at 10%, compounded quarterly, so that she will have enough to buy a new car? Round to the nearest cent

Answer 1

Amount = Principal(1 + i)^n
15000 = Princ(1 + .1/4)^16

I got $10104.37