# Business and finance help needed to calculate \$2,000 for 10 years at 5% interest compounded quarterly in 10 years.

Anonymous
account_balance_wallet \$5

### Question Description

If \$2,000 is placed in a retirement account for 10 years, at a 5% interest rate, compounded quarterly, how much will be in the retirement account in 10 years?

JamesM847
School: University of Maryland

the amount is

2000*(1+0.05/4)^40 = 3287.24

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Anonymous
Top quality work from this guy! I'll be back!

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