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

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

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?

Nov 8th, 2015

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

the amount is 

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

Please let me know if you need any clarification. I'm always happy to answer your questions.
Nov 8th, 2015

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