Answer:
$880.28
Step-by-step explanation:
We are asked to find the compound interest on an investment of $45,000 at 6% interest, compounded quarterly, for 3 years.
We will use compound interest formula.
, where,
A = Amount after T years,
P = Principal amount,
r = Annual interest rate in decimal form,
n = Number of times interest is compounded per year,
T = Time in years.







Interest would be final amount minus principal amount.


Therefore, the amount of interest after 3 years would be $880.28.