Question

You deposit $10,000 in an account that pays 4.5% interest compounded quarterly. Find the future value after one year. ​

Answer 1

Answer:

After 1 year, $10,457.65

Step-by-step explanation:

P = $ 10, 000

r = 4.5% = 0.045

T = 1 year

n = 4 ( compounded quarterly )

      $A = P( 1 + \frac{r}{n})^{nt}$

         $= 10000( 1 + \frac{0.045}{4})^{4 \times 1}\\\\=10000 \times 1.01125^{4}\\\\= 10000 \times 1.04576508633\\\\= 10457.6508633\\\\= \ 10, 457.65$

Answer 2

Answer:

11800

Step-by-step explanation:

4.5%=0.045

0.045x10,000=450

450x4(quarterly)=1800

10,000+1800= 11800