Hi Noah,

A = P(1 + r/n)^nt

A (Amount)

P (Principal)

r/n = ( Periodic Interest rate)

n (Times per year the interest is compounded)

t (time in years)

A = 7201

P = amount we want to find

r/n = .06/4 = .015

n = 4

t = 2

A = P(1 + r/n)^nt

A (Amount)

P (Principal)

r/n = ( Periodic Interest rate)

n (Times per year the interest is compounded)

t (time in years)

A = 7201

P = amount we want to find

r/n = .06/4 = .015

n = 4

t = 2

7201 = P (1.015)

^{8}7201 = 1.126493 P

P = 6392.41

Hope this helps