Answer:
[tex]A=25,000(1+\frac{.062}{4})^{(4)t}[/tex]
Step-by-step explanation:
You are going to want to use the compound interest formula, which is shown below.
[tex]A=P(1+\frac{r}{n} )^{nt}[/tex]
P = initial balance
r = interest rate
n = number of times compounded annually
t = time
Since the balance is compounded quarterly, the number [tex]4[/tex] will be used for n.
Now lets plug in the values into the equation:
[tex]A=25,000(1+\frac{.062}{4})^{(4)t}[/tex]
