SOLUTION: Find the interest on $2500 invested for 5 years at 10% compounded quarterly. I know that quarterly would be 3 or 4 times a year? I just need help to figure out how to set up thi

SOLUTION: Find the interest on $2500 invested for 5 years at 10% compounded quarterly. I know that quarterly would be 3 or 4 times a year? I just need help to figure out how to set up thi

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Question 379444: Find the interest on $2500 invested for 5 years at 10% compounded quarterly.
I know that quarterly would be 3 or 4 times a year? I just need help to figure out how to set up this problem and then I can solve it. I just want to make sure I'm setting everything up right. Thanks!
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
A=2500(1+0.1/4)^(5*4)
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