SOLUTION: Suppose $2500 is invested at 7.5% per year compounded quarterly. What is the amount after 5 years?

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Question 78534: Suppose $2500 is invested at 7.5% per year compounded quarterly. What is the amount after 5 years?
Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
Suppose $2500 is invested at 7.5% per year compounded quarterly. What is the amount after 5 years?
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Formula: A(t)=P(1+r/n)^(nt)
Your Problem:
A(5)=2500(1+0.075/4)^(4*5)
A(5)=$3524.87
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Cheers,
Stan H.