Aubrey invested $7,100 in an account paying an interest rate of 5.6% compounded

We have been given that Aubrey invested $7,100 in an account paying an interest rate of 5.6% compounded quarterly. We are asked to find the amount is account after 19 years.

We will use compound interest formula to solve our given problem.

, where,

A = Final amount after t years,

P = Principal amount,

r = Annual interest rate in decimal form,

n = Number of times interest is compounded per year.

t = Time in years.

,  and

Upon rounding to nearest ten dollars, we will get:

Therefore, there will be approximately $20,420 in the account after 19 years.

:)

0.05

Step-by-step explanation: