The Parkers are saving up to go on a family vacation in 2 years. They invest $ 2500 into an account with an annual interest rate of 1.24% compounded quarterly.
Answer the questions below. Do not round any intermediate computations, and round your final answers to the nearest cent. If necessary, refer to the
list of financial formulas.
Х
5
?
(a) Assuming no withdrawals are made, how much money is in the Parkers'
account after 2 years?
si
回
(b) How much interest is earned on the Parkers' investment after 2 years?
si