Question 1120187
f = p * (1 + r) ^ n


f is the future value
p is the present value
r is the interest rate per time period
n is the number of time periods.


in your problem, the equation becomes:


f = 2000 * (1 + .10/4) ^ (4*4)


this results in a future value of 2969.011241


every 3 months occurs 4 times a year.


this means the interest is compounded quarterly.


the annual interest rate (not the percent) is divided by 4 to get the quarterly interest rate.


the number of years is multiplied by 4 to get the number of quarters.