Approximately how much principal would need to be placed into an account earning 3.575% interest compounded quarterly so that it has an accumulated value of $68,000 at the end of 30 years?

Use the present value formula: principal = accumulated value ÷ (1 + rate per period)^(number of periods). The quarterly rate is 0.03575 ÷ 4 = 0.0089375, and 30 years contains 30 × 4 = 120 quarters. Thus, the required principal is $68,000 ÷ (1.0089375)^120 ≈ $23,377, which is choice B.

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