What is the value of an investment of $3,500 after 2 years if it earns 1.5% compounded quarterly?

Using formula:

where

P is the principal

r is the annual rate in decimal

n is the number of compounding periods per year

t is the number of years.

As per the statement:

$3,500 after 2 years if it earns 1.5% compounded quarterly.

Here, P = $3500, t= 2 years, r = 1.5% = 0.015  and n = 4

then,

Substitute these values we have;

Or

or

Simplify:

Amount = $3606.38852

Therefore, the value of an investment after 2 years is, $3,606.39

this is a very good question

step-by-step explanation:

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