Aubrey invested $7,100 in an account paying an interest rate of 5.6% compounded quarterly. Assuming no deposits or withdrawals are made, how much money, to the nearest ten dollars, would be in the account after 19 years?

We have been given that Aubrey invested $7,100 in an account paying an interest rate of 5.6% compounded quarterly. We are asked to find the amount is account after 19 years.

We will use compound interest formula to solve our given problem.

, where,

A = Final amount after t years,

P = Principal amount,

r = Annual interest rate in decimal form,

n = Number of times interest is compounded per year.

t = Time in years.

,  and

Upon rounding to nearest ten dollars, we will get:

Therefore, there will be approximately $20,420 in the account after 19 years.

:)

c 1 hour

step-by-step explanation:

m = 2e

m = 2 so 2 = 2e

1 = e