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An investment of $2000 is earning 4% interest compounded quarterly. How much the investment be worth after 5 years?  (Round your answer to two decimal places)

 Mar 4, 2015

Best Answer 

 #1
avatar+118608 
+5

$${\mathtt{2\,000}}{\mathtt{\,\times\,}}{\left({\mathtt{1}}{\mathtt{\,\small\textbf+\,}}{\frac{{\mathtt{0.04}}}{{\mathtt{4}}}}\right)}^{\left({\mathtt{5}}{\mathtt{\,\times\,}}{\mathtt{4}}\right)} = {\mathtt{2\,440.380\: \!079\: \!895\: \!933\: \!649}}$$

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 Mar 4, 2015
 #1
avatar+118608 
+5
Best Answer

$${\mathtt{2\,000}}{\mathtt{\,\times\,}}{\left({\mathtt{1}}{\mathtt{\,\small\textbf+\,}}{\frac{{\mathtt{0.04}}}{{\mathtt{4}}}}\right)}^{\left({\mathtt{5}}{\mathtt{\,\times\,}}{\mathtt{4}}\right)} = {\mathtt{2\,440.380\: \!079\: \!895\: \!933\: \!649}}$$

Melody Mar 4, 2015

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