Step-by-step explanation:
A(t) = amount in t years
P = Principal (original investment)
r = annual interest rate (in decimal form)
n = number of times that interest is compounded each year
A(t) = P(1 + r/n)nt
Substitute in the given values: 2000 = P(1 + 0.04/12)12(10)
2000 = P(1.490832682)
P = $1341.53
