Find the balance in the account. $2,500 principal earning 4%, compounded quarterly, after 4 years a. $40,000.00 b. $41,600.00 c. $2,924.65 d. $2,931.45

The balance in the account is $2931.45 .

Option (D) is correct.

Step-by-step explanation:

Formula

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

As given

The account. $2,500 principal earning 4%, compounded quarterly, after 4 years.

P = $2500

4% is written in the decimal form

= 0.04

r = 0.04

t = 4 yeas

Put all the values in the formula

Amount = $2931.45

Therefore the balance in the account is $2931.45 .

Option (D) is correct.

this is not the answer this is just a question. is this middle school math?

step-by-step explanation: