Answer:
$6030.23
Step-by-step explanation:
The future value formula is useful for this.
FV = P(1 +r/n)^(nt)
where P is the principal invested, r is the annual rate, n is the number of times per year interest is compounded, and t is the number of years. Filling in the given values, we can do the arithmetic to find the amount.
FV = $4700·(1 + 0.025/4)^(4·10) ≈ $6030.23
The amount in the account will be $6030.23.
