To answer this question we need to remember the formula:
[tex]A=P(1+\frac{r}{n})^{nt}[/tex]where r is the interest rate, n is the number of times it is compounded in a given time t.
In this case we know that A=1,000, r=0.13, n=12 and t=13. Plugging this values in the formula and solving for P we have:
[tex]\begin{gathered} 1000=P(1+\frac{0.13}{12})^{12\cdot4} \\ P=\frac{1000}{(1+\frac{0.13}{12})^{12\cdot4}} \\ P=596.19 \end{gathered}[/tex]Therefore, the initial deposit was $596.19
