$$\begin{array}{l}
\text { Find the compound interest. }\
\begin{array} { c | c | c | c }
\text { Principal } & \text { Rate } & \text { Compounded } & \text { Time } \
\hline \$ 3000 & 19.5 \% & \text { Quarterly } & 3.5 \text { years }
\end{array}
\end{array}$$
A) $2839.41
B) $2844.70
C) $2841.56
D) $2831.45

Question

$$\begin{array}{l}
\text { Find the compound interest. }\
\begin{array} { c | c | c | c } 
\text { Principal } & \text { Rate } & \text { Compounded } & \text { Time } \
\hline \$ 3000 & 19.5 \% & \text { Quarterly } & 3.5 \text { years }
\end{array}
\end{array}$$
A) $2839.41
B) $2844.70
C) $2841.56
D) $2831.45

Quizplus · Accepted Answer

The compound interest is calculated using the formula $ A = P \left(1 + \frac{r}{n}\right)^{nt} $. Here, $ P = 3000 $, $ r = 0.195 $, $ n = 4 $, and $ t = 3.5 $. The compound interest is $ A - P $, which results in $2841.56.

A) $283941 B) $2844

A) $283941
B) $2844