Answer
\[\$9,287.93\]
Work Step by Step
future value of loan can be done with the mentioned formula:
\[P=\frac{A}{1+rt}\]
Where A denotes the Future value of the amount, P denotes the Principal amount, r denotes the rate of interest, and t denotes the number of years.
Compute the principal amount by substituting the values in the formula as mentioned below:
\[\begin{align}
& P=\frac{A}{1+rt} \\
& =\frac{\$12,000}{1+\left(0.073\times4\right)}\\&=\frac{\$12,000}{1.292}\\&=\$9,287.93\end{align}\]
Hence, the principal amount which is saved to buy a sailboat is \[\$9,287.93\]
