Respuesta :
About $250 did ollie deposit into his account when he opened the bank account again.
Present value = Future value/ (1+interest rate)^time
= $303.88 /(1+0.05)^4
= $303.88 / 1.2155
= $250
Thus, Matt deposited $250 into the account when he first opened it.
- Money kept in a bank is referred to in the financial lexicon as a deposit. A deposit is a transaction in which money is transferred to a different party for safekeeping. Yet another definition of a deposit is a sum of money used as security or collateral for the delivery of an item.
- Transferring money to a third party, such a bank, for safekeeping constitutes a different type of deposit.
- There are two definitions for a deposit. One type of deposit entails transferring money to a different party for safekeeping. According to this definition, a deposit is cash added by an investor to a savings or checking account kept at a bank or credit union.
Learn more about Deposit, here
https://brainly.com/question/2507231
#SPJ4
