A deposit of $ 5000 is made in an account that earns 4 % interest compounded quarterly.The balance in the account after n quarters is given by $A _ { n } = 5000 \left( 1 + \frac { 0.04 } { 4 } \right) ^ { n } , n = 1,2,3 , \ldots$ Find the balance in the account after 10 years by finding the 40th term of the sequence.Round to the nearest penny.
A)$ 7518.76.
B)$ 7370.61
C)$ 7444.32
D)$ 7518.76
E)$ 24,005.10

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The Answer of A deposit of $ 5000 is made in an account that earns 4 % interest compounded quarterly.The balance in the account after n quarters is given by $A _ { n } = 5000 \left( 1 + \frac { 0.04 } { 4 } \right) ^ { n } , n = 1,2,3 , \ldots$ Find the balance in the account after 10 years by finding the 40th term of the sequence.Round to the nearest penny.
A)$ 7518.76.
B)$ 7370.61
C)$ 7444.32
D)$ 7518.76
E)$ 24,005.10

A Deposit of $ 5000 Is Made in an Account An=5000(1+0.044)n,n=1,2,3,…A _ { n } = 5000 \left( 1 + \frac { 0.04 } { 4 } \right) ^ { n } , n = 1,2,3 , \ldotsAn​=5000(1+40.04​)n,n=1,2,3,…

A Deposit of $ 5000 Is Made in an Account $A _ { n } = 5000 \left( 1 + \frac { 0.04 } { 4 } \right) ^ { n } , n = 1,2,3 , \ldots$