Answer:
$ 4933.2 ( approx )
Step-by-step explanation:
∵ Future value formula is,
[tex]A=P(1+\frac{r}{n})^{nt}[/tex]
Where,
P = principal amount,
r = annual rate,
n = number of periods,
t = number of years,
Given,
P = $ 4,000, r = 3.5 % = 0.035, t = 6 years n = 12 ( number of months in 1 year = 12 ),
Hence, the future value would be,
[tex]A=4000(1+\frac{0.035}{12})^{72}=4933.20414683\approx \$ 4933.2[/tex]
