A deposit of $ 5000 is made in an account that earns 4 % interest compounded quarterly. The balance in the account after n quarters is given by

Find the balance in the account after 10 years by finding the 40th term of the sequence. Round to the nearest penny.

A. $ 7518.76
B. $ 7370.61
C. $ 7444.32
D. $ 7518.76
E. $ 24,005.10

Answer: C

Mathematics

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B. n = -  
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