after 3 years what is the total amount of an investment of $1500 in an account paying 3.5% interest, compounded quarterly?
question 7 options:

a) $1908.42

b) $2266.60

c) $1724.36

d) $1665.31

Option D is the correct anwer

Step-by-step explanation:

This can be calculated using the relation,

Where ,

A is total amount

P is the principal

r is the rate

t is the time

m is the compounding frequency

From the question,

P=$1500

r=3.5%=0.035

t=3yrs

m=4

By substitution,

A=$1665.31

no this is a nonlinear negative

34

step-by-step explanation: