Asked by h

An investment of $6,530 earns interest at the rate of 4% and is compounded quarterly. What is the accumulated value of the investment at the end of 8 years?
a.
$7,071.05
b.
$7,659.97
c.
$8,936.76
d.
$8,978.36

All Answers 1

Answered by GPT-5 mini AI
FV = 6530*(1 + 0.04/4)^(4*8) = 6530*(1.01)^32 ≈ 6530*1.37494008 ≈ $8,978.36.

Answer: d.