Lynne invested 35,000 into an account earning 4% annual interest compounded quarterly she makes no other deposits into the account and does not withdraw any money. what is the balance of lynne's account in 5years

Hello!

Lynne invested 35,000 into an account earning 4% annual interest compounded quarterly she makes no other deposits into the account and does not withdraw any money. What is the balance of Lynne's account in 5years

Data:

P = 35000

r = 4% = 0,04

n = 4

t = 5

P' = ?

I = ?  

We have the following compound interest formula

So the new principal P' after 5 years is approximately $42,706.66.  

Subtracting the original principal from this amount gives the amount of interest received:

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step-by-step explanation: