Answer:
The approximate value of the investment in one year is 4183.
Step-by-step explanation:
The formula for finding the compound interest for one year that compounded quarterly is :
[tex]A = P(1 + \frac{r}{400} )^{4t}[/tex]
Here,
P - Principal = 4000
r - 4.5%
t - 1
Therefore,
[tex]A = 4000(1 + \frac{4.5}{400} )^{4}[/tex]
[tex]= 4000(1.01125)^{4}[/tex]
[tex]= 4000(1.04577)[/tex]
= 4183.08
Hence, the approximate value of the investment in one year is 4183.
