Answer:
$ 3362.22 ( approx )
Step-by-step explanation:
Since, the amount ( interest with principal amount) in compound interest is,
[tex]A=P(1+\frac{r}{n})^{nt}[/tex]
Where,
P = principal amount,
r = annual rate,
n = compounding periods in a year,
t = number of years,
Here, P = $ 2,500,
r = 10 % = 0.1,
t = 3 years,
n = 4 ( 1 year = 4 quarters )
Hence, the final amount would be,
[tex]A=2500(1+\frac{0.1}{4})^{12}[/tex]
[tex]=2500(1+0.025)^{12}[/tex]
[tex]=2500(1.025)^{12}[/tex]
[tex]=3362.22206062[/tex]
[tex]\approx \$ 3362.22[/tex]
