Question

After 3 years what is the total amount of an investment of $1500 in an account paying 3.5% interest, compounded quarterly?

Answer 1

$1665.31
$1724.36
$1908.42
$2266.60

Answer 2

@sleepyjess

Answer 3

@iGreen

Answer 4

I think the answer is A

Answer 5

We can write the exponential function:

\(f(x) = 1500(1 + 0.035)^x\)

Answer 6

Plug in 3 for 'x' and solve.

Answer 7

so It is A. Thanks iGreen

Answer 8

Yep, you got it.

Answer 9

@kevindragonlord