9514 1404 393
Answer:
$7154
Step-by-step explanation:
The formula for the account balance is ...
A = P(1 +r/n)^(nt)
where principal P is invested at annual rate r compounded n times per year for t years. You have P=5000, r=0.04, n=4, t=9. Filling these values into the formula, you can do the arithmetic to find the balance.
A = $5000(1 +0.04/4)^(4·9) = $5000(1.01^36) ≈ $7153.84
There will be about $7154 in the account at the end of 9 years.
