June made an initial deposit of $5000 in an account for her son. Assuming an interest rate of 7% compounded quarterly, how much will the account be worth in 11 years? Round to the nearest cent. Can someone help me with this problem?

Answer 1

Use the compound interest formula ...

amount
= 5000(1 + .07/4)^44
= 5000(1.0175)^44
= 10727.15

Answer 2

how much will i get