Answer
After $2\;yr$ $2217.71$
After $5\;yr$ $2589.52$
Work Step by Step
The given values are
Initial value $=\$2000$.
Rate of interest $r=5.2\%=0.052$.
Number of periods $n=4$.
Formula for compounded interest:
$A=P(1+\frac{r}{n})^{nt}$
For time $t=2\;yr$.
Substitute all values into the formula.
$A=2000(1+\frac{0.052}{4})^{4\cdot 2}$
Simplify.
$A=2217.71$
For time $t=5\;yr$.
Substitute all values into the formula.
$A=2000(1+\frac{0.052}{4})^{4\cdot 5}$
Simplify.
$A=2589.52$
