When their child was born, elaine and mike porter deposited $5,000 in a savings account at tennessee trust. the money earns interest at 6% compounded quarterly. considering that they make no other deposits or withdrawals, how much will the account be worth in two years

The account be worth in two years be $5632.5 .

Step-by-step explanation:

Formula for compounded quarterly

Where P is the principle , r is the rate of interest in the decimal form and t is the time.

As given

Elaine and Mike Porter deposited $5,000 in a savings account at Tennessee Trust.

The money earns interest at 6%

P =  $5000

6% is written in the decimal form.

= 0.06

r = 0.06

t = 2 years

Put all the value in the formula

Amount = $5632.5 (Approx)

Therefore the account be worth in two years be $5632.5 .

the answer is:

the answer is:

to solve the problem, we need to remember the quotient of power property, it's defined by the following relation:

if we have a quotienf of powers that have the same base, we need to keep the same base and subtract the exponent of the denominator power to the exponent of the numerator power.

so, we are given the expression:

then, calculating we have:

hence, the answer is:

have a nice day!