Maturity value with quarterly compounding

Statement

A principal of $5000\ \text{€}$ is invested at $8\%$ per year with quarterly compounding. Maturity value after $5$ years?

Solution

With $m=4$, $M=C\left(1+\dfrac{i}{m}\right)^{mt}=5000\,(1+0{.}02)^{20}$. $M=5000\cdot 1{.}485947\approx\boxed{7429{.}74\ \text{€}}.$