<h3>
Answer: 12,201.90 dollars</h3>
You may need to delete the comma if you are entering this result into a computer system.
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Work Shown:
P = 10,000 = deposit
r = 0.04 = decimal form of 4% interest rate
n = 4 = we're compounding 4 times a year
t = 5 years
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A = P*(1+r/n)^(n*t) .... compound interest formula
A = 10,000*(1+0.04/4)^(4*5)
A = 12,201.9003994797
A = 12,201.90
After 5 years, there is $12,201.90 in the account.
This is assuming you do not deposit any more money, and it also assumes that you don't take any money out during the 5 year timespan either.
