The formula of this equation would be [tex]x_{0}[/tex]* 1.026^16 = 7,160.06
So from this equation we know that [tex] x_{0} = \frac{7,160.06}{1.026^{16} } [/tex]
Now we need to find the value of x, we need to multiply [tex] x_{0} [/tex] * 1.026 16 times. Which will bring us to your answer. $4,748.53
