SOLUTION: suppose that $2000 is invested at a rate of 2.6%, compounded quarterly. Assuming that no one withdrawls are made, find the total amount after 10 years. Do not round any intermediat

Question 782797: suppose that $2000 is invested at a rate of 2.6%, compounded quarterly. Assuming that no one withdrawls are made, find the total amount after 10 years. Do not round any intermediate computations and round your answer to the nearest cent
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
suppose that $2000 is invested at a rate of 2.6%, compounded quarterly. Assuming that no one withdrawls are made, find the total amount after 10 years. Do not round any intermediate computations and round your answer to the nearest cent.
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A(10) = 2000(1+(0.026/4))^(4*10) = 2000*1.2958 = $2591.68
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Cheers
Stan H.
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