Answer
\[\$13,389.12\]
Work Step by Step
Where A denotes the Future value of the amount, P denotes the Principal amount, r denotes the rate of interest, t denotes the number of years.
Compute the principal amount by substituting the values in the formula as mentioned below:
\[\begin{align}
& P=\frac{A}{1+rt} \\
& =\frac{\$16,000}{1+\left(0.065\times3\right)}\\&=\frac{\$16,000}{1.195}\\&=\$13,389.12\end{align}\]
Hence, the principal amount is \[\$13,389.12\]
