Final answer:
To calculate the amount of money in the bank after 6 years with compound interest, use the formula A = P(1 + r/n)ⁿᵗ, and calculate the values based on the given information. The amount of money in the bank after 6 years is approximately $3073.43.
Step-by-step explanation:
To calculate the amount of money in the bank after 6 years with compound interest, we can use the formula: A = P(1 + r/n)ⁿᵗ, where A is the final amount, P is the principal amount, r is the annual interest rate, n is the number of times the interest is compounded per year, and t is the number of years.
In this case, the principal amount is $2150, the annual interest rate is 6% (or 0.06 as a decimal), the interest is compounded quarterly (so n=4), and the number of years is 6. Plugging these values into the formula, we get:
A = 2150(1 + 0.06/4)⁽⁴*⁶⁾= 2150(1 + 0.015)²⁴
Calculating this, we find the amount of money in the bank after 6 years to be approximately $**3073.43**.