Question

kala deposite 4000 into a account with 4%interest compounded quarterly assuming that no withdrawals are made how much will she have in the account after 10 years ?

Answer 1

$5,600 hopefully that helped

Answer 2

I believe the answer is $10,400. I got this by first finding what 4% of 4000 was...$160. Once we find this, we just multiply that 40,(a number of quarters in 10 years) and then add it to the starting amount of 4000. This is how I arrived at my conclusion, and I hope it is helpful to you as well...