How much should be deposited in an account paying 5% interest, compounded quarterly, in order to have a balance of $ 9,000 after 29 years and 6 months?

Answer 1

A = P (1 + r/n) ^(nt)

1.  A = the future value of the investment/loan, including interest
2.  P = the principal investment amount (the initial deposit or loan amount)
3.  r = the annual interest rate (decimal)
4.  n = the number of times that interest is compounded per unit t
5.  t = the time the money is invested or borrowed for

Plugging in your values

9000 = P (1 + .05/4) ^(4*29.5)

P=9000/[(1 + .05/4) ^(4*29.5)]

P=$2077.92