Final answer:
The future value of $4600 invested for 5 years at 7.3 percent compounded annually is $6563.50, when rounded to the nearest penny.
Step-by-step explanation:
The future value of an investment is calculated using the formula for compound interest, which takes into account the initial amount of money invested (the principal), the interest rate, the number of times that interest is compounded per year, and the number of years the money is invested. In this case, the formula to calculate the future value of $4600 invested for 5 years at 7.3 percent compounded annually is:
Future Value = Principal x (1 + interest rate) ^ number of periods
Therefore, the calculation would be:
Future Value = $4600 x (1 + 0.073) ^ 5
Plugging in the numbers:
Future Value = $4600 x (1.073) ^ 5
Future Value = $4600 x 1.425762
Future Value = $6563.50
Thus, the future value of $4600 invested for 5 years at 7.3 percent compounded annually, rounded to the nearest penny, is $6563.50.