If $2900 is invested at 4.5% compounded quarterly, what is its value after 10 years?

amount = 2900(1.01225)^40

= .....

45036

To find the value of the investment after 10 years, we can use the formula for compound interest:

A = P(1 + r/n)^(nt)

Where:
A is the future value of the investment
P is the principal amount (initial investment)
r is the annual interest rate (in decimal form)
n is the number of times the interest is compounded per year
t is the number of years

In this case, we have:
P = $2900
r = 4.5% = 0.045
n = 4 (compounded quarterly)
t = 10 years

Plugging the values into the formula:

A = 2900(1 + 0.045/4)^(4*10)
A = 2900(1 + 0.01125)^(40)
A = 2900(1.01125)^(40)

Now, we can calculate the value using a calculator or a spreadsheet.

A ≈ $4,937.09

Therefore, the investment will be approximately $4,937.09 after 10 years.