You are going to put some money in your bank and let it grow. You are only going to make a single payment, and then leave it alone for 15 months after. Your bank account will provide 4.0% annual rate on your money. If you need to have $23,758.38 after 15 months, then how much should you deposit?

Note: Answer with dollars and cents rounded to the nearest cent. Do not round intermediate calculations.

Answer rating: 100% (QA)

We can use the formula for the future value of a sin... View the full answer