Answer:
After 1 year, $10,457.65
Step-by-step explanation:
P = $ 10, 000
r = 4.5% = 0.045
T = 1 year
n = 4 ( compounded quarterly )
[tex]A = P( 1 + \frac{r}{n})^{nt}[/tex]
[tex]= 10000( 1 + \frac{0.045}{4})^{4 \times 1}\\\\=10000 \times 1.01125^{4}\\\\= 10000 \times 1.04576508633\\\\= 10457.6508633\\\\= \$ 10, 457.65[/tex]
