Answer:
I’m pretty sure it’s $11,780.60
Explanation:
We can use the formula for compound interest to determine how much money Paula will have in 25 years:
A = P(1 + r/n)^(nt)where:A = the total amount of money after t years
P = the principal amount (the initial investment)
r = the annual interest rate (as a decimal)
n = the number of times the interest is compounded per year
t = the number of years
In this case, we have:
P = $5,000
r = 4.10% = 0.041 (as a decimal)
n = 4 (compounded quarterly)
t = 25 years
Plugging these values into the formula, we get:
A = $5,000(1 + 0.041/4)^(4*25)
A = $5,000(1 + 0.01025)^100
A = $5,000(1.01025)^100
A = $5,000(2.356)
A = $11,780.60
Therefore, Paula will have approximately $11,780.60 in her account after 25 years.