How much will be in the account in 10 years.

Business & Finance
Tutor: None Selected Time limit: 1 Day

If $2000 is placed in a retirement account for 10 years and it earns 5% interest per year, compounded quarterly. How much will be in the account in 10 years.

Oct 25th, 2015

Thank you for the opportunity to help you with your question!

A=P(1+r/100)^n

=2000(1+1.25/100)^40

=2000(1.0125)^40

=$3287.24

Please let me know if you need any clarification. I'm always happy to answer your questions.
Oct 25th, 2015

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Oct 25th, 2015
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Oct 25th, 2015
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