We know that
• The principal is $5000.
,• The interest rate is 2.75%.
,• The compound is quarterly.
,• The time is 10 years.
We have to use the compound interest formula
[tex]A=P(1+\frac{r}{n})^{nt}[/tex]Where P = 5000, r = 0.0275, n = 4, and t = 10. Let's replace these values and solve for A.
[tex]\begin{gathered} A=5000(1+\frac{0.0275}{4})^{4\cdot10} \\ A=5000(1+0.006875)^{40} \\ A=5000(1.32)=6,600 \end{gathered}[/tex]