Okey, here we have the following:
Capital: 10000
Interest: 2%
Time: 7 Years= 7*4=28 quarters of year
Using the compound interest formula, we get:
[tex]C_f=10000(1+\frac{0.02}{4})^{4\cdot7}=1000(1+\frac{0.02}{4})^{28}[/tex]Working we get:
[tex]C_f\approx11.498.73[/tex]She will have aproximately $11,498.73 in her account after 7 years.
