Final answer:
The accumulated amount of the investment of $2500 for 10 years at 4.3% compounded quarterly is approximately $3,642.63.
Step-by-step explanation:
To find the accumulated amount of an investment, we can use the formula:
A = P(1 + r/n)^(nt)
Where:
- A is the accumulated amount
- P is the principal amount (initial investment)
- r is the annual interest rate (expressed as a decimal)
- n is the number of times the interest is compounded per year
- t is the number of years
In this case, P = $2500, r = 4.3% = 0.043, n = 4 (compounded quarterly), and t = 10 years.
Substituting these values into the formula, we get:
A = 2500(1 + 0.043/4)^(4*10) = $2500(1.01075)^40 ≈ $3,642.63