How much will $2500 left in an an account earning 7.3% interest compounded quarterly be worth in 5 years?

The compound interest has the capacity to capitalize on the interest of the previous period, that is to say that it converts the interest earned in a period into capital for the following one, in this way the formula of the compound interest is:

Where is the future value or capital that will remain, the present or initial value, the interest rate per period and the number of periods to be capitalized, in this case we have a present value of $2,500, a quarterly rate of 7.3% , that is to say 4 in a year, as they are 5 years, we obtain 4 * 5 = 20 periods, with this we calculate

Answer

$ 10,231.39 will remain in the account

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explanation: