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For retirement, Mike invested $2,500 in an account that pays 6% annual interest, compounded quarterly. Find the value of his investment after 10 years. $2,035.05 $1,609.05 $4,109.05 $4,535.05
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For retirement, Mike invested $2,500 in an account that pays 6% annual interest, compounded quarterly. Find the value of his investment after 10 years.

$2,035.05

$1,609.05

$4,109.05

$4,535.05

User Matthieu Libeer
by
4.3k points

1 Answer

5 votes

Answer:

$4,535.05

Explanation:

User Jeggy
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4.9k points
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