Question 1045665
{{{ p }}} is the amount he should deposit,
so solve for {{{ p }}}
{{{ I = 3800 }}}
{{{ t = 4.5 }}}
{{{ r = .0325 }}}
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{{{ I = p*r*t }}}
{{{ 3800 = p*.0325*4.5 }}}
{{{ 3800 = .14625p }}}
{{{ p = 25982.906 }}}
He must deposit $25,983
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check answer:
{{{ I = p*r*t }}}
{{{ 3800 = 25983*.0325*4.5 }}}
{{{ 38900 = 3800.01 }}}
OK