Given:
Quantum Logic recently expanded its operations at a cost of $450,000.
So, P = 450,000
The rate of growth = r = 8% = 0.08
compounded quarterly, n = 4
We will find the future value of the investment (A) after t = 5 years
We will use the following formula:
[tex]A=P\cdot(1+\frac{r}{n})^{nt}[/tex]Substitute with the given values:
[tex]\begin{gathered} A=450,000\cdot(1+\frac{0.08}{4})^{4\cdot5} \\ \\ A=450,000\cdot1.02^{20}\approx668,676.33 \end{gathered}[/tex]So, the answer will be:
The future investment = $668,676.33
