compound intrest

Question

$15,000 is invested in an account paying 2.5% annual interest compounded quarterly. Find the amount of money in the account at the end of 10 years. Show work, round your final answer to the nearest penny.

Answer 1

A=P(1+r/n)^nt

A=amount,  P= principal, r = yearly interest rate, n = number of compounding periods per year, t=years

A=15000(1+.025/4)^4×10=19245.4023092=19245.40