Alex invests $12,500 in a savings account that pays 5% interest compounded quarterly. Approximately how much money will he have in the account after 10 years?
A = P (1 + r/n) (nt) A = the future value of the investment P = (the initial deposit or loan amount) r = the annual interest rate (decimal) n = the number of times that interest is compounded per year t = the number of years the money is invested
