4. How much money should be deposited in a bank account paying interest at the rate of 12% annually compounded quarterly, so that at the end of 5 years there will be $40,000 in the account? Start by writing the formula you will use.

4. How much money should be deposited in a bank account paying interest at the rate of 12% annually compounded quarterly, so that at the end of 5 years there will be $40,000 in the account? Start by writing the formula you will use