Based on the period of investment, the amount invested and the annual interest, the value will be $30,201.
As the same amount is invested every time, this is an annuity. The future value of an annuity is calculated as:
= Amount x ( ( 1 + rate) ^ number of periods - 1) / rate
Rate = 8% / 4 quarters in a year = 2% per quarter
Period = 10 x 4 quarters = 40 quarters
Future value is:
= 500 x ( ( 1 + 2%)⁴⁰ - 1) / 2%
= 30,200.99
= $30,201
In conclusion, the account would be worth $30,201.
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