You deposit 250 in a bank account that offers compound interest at a rate of 5 compounding quarterly. At the end of five years your balance isYou deposit 250 in a bank account that offers compound int?

To calculate the balance at the end of five years with a deposit of $250 at a 5% annual interest rate compounded quarterly, we use the formula for compound interest:

[ A = P \left(1 + \frac{r}{n}\right)^{nt} ]

Where ( A ) is the amount of money accumulated after n years, ( P ) is the principal amount ($250), ( r ) is the annual interest rate (0.05), ( n ) is the number of times that interest is compounded per year (4), and ( t ) is the number of years the money is invested (5).

Plugging in the values:

[ A = 250 \left(1 + \frac{0.05}{4}\right)^{4 \times 5} ]

Calculating this gives approximately $320.51 at the end of five years.