Acertificate of deposit earns 1% interest every three months. the interest is compounded. what is the value of a $35,000 investment after 6 years? $37,153.21 $39,438.88$44,440.71$56,295.30

Option C.

Step-by-step explanation:

The formula for amount after compound interest is

where, P is principal, r is annual rate of interest, r/n is per period interest, n is number of time interest compounded in 1 year, t is number of years.

Given information:

Principle :

Per period interest :

Number of time interest compounded in 1 year :

Number of years :

Using the formula we get

The value of a $35,000 investment after 6 years is $44,440.71.

Therefore, the correct option is C.

28

step-by-step explanation:

because that's the answer