Elizabeth invests $7567 in a savings account with a fixed annual interest rate of 5% compounded quarterly. What will the account balance be after 7 years?

FV= $10,714.81

Step-by-step explanation:

Giving the following information:

Initial investment= $7,567

Number of periods= 7*4 = 28 quarters

Interest rate= 0.05/4= 0.0125

To calculate the future value, we need to use the following formula:

FV= PV*(1+i)^n

FV= 7,567*(1.0125^28)

FV= $10,714.81

me

step-by-step explanation:

set each factor equal to 0

4x-3 = 0

2x-1 = 0

solve for x.

4x-3=0

4x=3

x= 3/4

solve for x. 

2x-1= 0

2x= 1

x= 1/2

eventually after a few more steps, your answer should be 1/2 is less than or equal to x and 3/4 is greater than or equal to x