Question: Managerial Accounting Present Value Computation: John Smith made a deposit into his savings account 3 years ago and earned interest at an annual rate of

Managerial Accounting

Present Value Computation:

John Smith made a deposit into his savings account 3 years ago and earned interest at an annual rate of 8%. The deposit accumulated to $19,000. How much was initially deposited assuming that the interest was compounded annually, semiannually, and quarterly?

I know the annual calculation is $15, 083. But how do I compute the semianually and quarterly amounts?

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