Find the sum of money that accumulates to $1600 at 5% compounded quarterly for six years, three months.
FV=1600; P=0; N=25; R=0.05/4;a=FV/(1 + R)^N; print"PV =$",a
PV = 1,172.85 dollars- this amount will grow to 1,600 dollars in 25 quarters @ 5% compounded quarterly.
