Compound Interest - compounded quarterly

I need help with this question from Magoosh- Diana invested $61,293 in an account with a fixed annual percent of interest, compounding quarterly. At the end of five full years, she had $76,662.25 in principal plus interest. Approximately what was the annual percent rate of interest for this account?

  1. 1.2%
  2. 4.5%
  3. 10%
  4. 18%
  5. 25.2%

1 Like