Respuesta :
ANSWER
[tex]\text{\$13,763.45}[/tex]EXPLANATION
We want to find the amount she will have after 5 years.
To do this, we apply the compound interest formula:
[tex]A=P(1+\frac{r}{n})^{nt}[/tex]From the question:
[tex]\begin{gathered} P=\text{ \$8000} \\ r=11\text{ \%= 0.11} \\ n=4 \\ t=5 \end{gathered}[/tex]n is 4 because there are 4 quarters in a year.
Therefore, we have that in 5 years, the amount she will have is:
[tex]\begin{gathered} A=8000(1+\frac{0.11}{4})^{(4\cdot5)} \\ A=8000(1+0.0275)^{20}=8000(1.0275)^{20} \\ A\approx\text{ \$13,763.45} \end{gathered}[/tex]That is how much she will have in 5 years.
