Question: Present Value Computation Pete Frost made a deposit into his savings account 3 years ago, and earned interest at an annual rate of 8%. The

Present Value Computation Pete Frost made a deposit into his savings account 3 years ago, and earned interest at an annual rate of 8%. The deposit accumulated to $20,000. How much was initially deposited assuming that the interest was compounded (a) annually, (b) semiannually, and (c) quarterly? Use Excel or a financial calculator for computation. Round your answer to nearest dollar.

(a)	Annually	Answer
(b)	Semiannually	Answer
(c)	Quarterly	Answer

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