A deposit of $1000 is made in a bank account that pays 24% interest per year compounded quarterly. Approximately how much money will be in the account after 10 years

$10,285.72

Explanation:

In this scenario, we can use the compound interest formula to calculate the total after 10 years. The formula is the  A = P *

where,

A = final value after interest

P = initial investment amount

r = annual interest rate in decimal form

n = number of time the interest is compounded based on t

t = total amount of time

In this case, the interest is compounded quarterly meaning 4 times a year, therefore we can plug all the values into the formula and solve for A

A = P *

A = 1000 *

A = 1000 *

A = 1000 * 10.2857

A = 10,285.72

Therefore after 10 years the account will have a total of $10,285.72

Status quo.

Explanation:

Status quo is an expression created in the 1700s that means "in the state of things". In a business strategy the status quo can be used to keep business processes as they are. In the case of Procter and Gamble's, maintaining the status quo is a strategy that does not include long-term vision, because even if products are revenue generating, the market is saturated, so it is important to adopt an innovation strategy to prevent potential negative economic factors that may arise.