The investment will be worth $4686.62 after 5 years.
Step-by-step explanation:
Principal, P = 3700
Rate, r = 4.75% = 0.0475
Number of years, t = 5 years
Number of times compounded, n = 5 times
Amount = P(1 + r/n)^nt
⇒ 3700 (1 + 0.0475/5)^25
⇒ 3700 (5.0475/5)^25
⇒ 3700 (1.0095)^25
⇒ 4686.62
∴ Amount = $4686.62
