Question

Please Help.

Answer 1

Answer:

Option D is the correct anwer

Step-by-step explanation:

This can be calculated using the relation,

$A=P(1 + \frac{r}{m})^{mt}$

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,

$A = 1500(1 + \frac{0.035}{4})^{4 \times 3}$

$A = 1500(1 + 0.00875)^{12}$

$A = 1500 \times (1.00875)^{12}$

$A = 1665.305$

A=$1665.31