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You deposit $2500 in a bank account that pays 4% interest compounded quarterly. how much money will be in the account in 5 years?

You deposit $2500 in a bank account that pays 4% interest compounded quarterly. how much money will be in the account in 5 years?
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5 votes
you deposit $2500 in a bank account that pays 4% interest compounded quarterly. how much money will be in the account in 5 years?

User Chinaxing
by
8.0k points

2 Answers

3 votes
the answer is 5,000 i think

User Bernard Paulus
by
8.3k points
4 votes
The answer would be $3,050.48
User NDJ
by
7.8k points
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