PLEASE HELP ME SOLVE THE QUESTION BELOW

Ann and Tom want to establish a fund for their grandson’s college education. What lump sum must they deposit at 12 % annual interest rate, compounded quarterly , in order to have 20,000$ in the fund at the end of 10 years?

AnnandTomto have $20,000 at the end of 10 years, they mustdepositasumof$6,131.14.## What is the principal?

sumof money they mustdeposit, use thecompound interest formula.compound interest formula;P = A / ( 1 + r/n )^(nt)P = $6,131.14AnnandTomto have $20,000 at the end of 10 years, they mustdepositasumof$6,131.14.compound interesthere: brainly.com/question/27128740