An investment is advertised as returning 3.1% every 3 months (quarterly), compounded quarterly. if $30,000 is invested, the growth can be modeled by the equation a(t) = 30,000(1.031)4t. what is the equivalent annual growth rate for this investment (rounded to the nearest hundredth of a percent) and what is it worth (rounded to the nearest thousand dollar) after 15 years? hint: find the value of 1.0314 on your calculator. 12.99% and $187,000 12.47% and $173,000 7.82% and $187,000 9.37% and $43,000