Question 8 of 9, Step 1 of 1
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Juan invested $$ 5200$ at $18 %$ to be compounded quarterly. What will be the value of Juan's investment in 2 years? Round your. answer to the nearest cent. Note: Assume 365 days in a year and 30 days in a month.

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So, the final answer is $$ 7394.92$ .

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Step 1 ：Given values are: Principal amount $P = $ 5200$ , Annual interest rate $r = 18 % = 0.18$ , Number of times interest is compounded per year $n = 4$ , Time in years $t = 2$ .

Step 2 ：Calculate future value using the formula $A = P * (1 + r / n)^{n * t}$ .

Step 3 ：Substitute the given values into the formula to get $A = 5200 * (1 + 0.18 / 4)^{4 * 2}$ .

Step 4 ：The value of Juan's investment in 2 years will be $7394.92 after rounding to the nearest cent.

Step 5 ：So, the final answer is $$ 7394.92$ .

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