What is $600 invested at 9% interest, compounded quarterly, worth in 3 years?

a. $640.50
b. $641
c.$762
d.$784

2 answers

amount = 600(1 + .09/4)^12

using:
Amount = principal(1+i)^n where i is the periodic interest rate of .09/4 and n is then number of interest periods, namely 12
784