determine the balance is the account if you deposited $4000 at an interest rate of 3.4% compounded quarterly for three yearsa.) $4428.90b.) $4422.03c.) $4427.62d.) $4429.51

Answer:Option c.) $4427.62Step-by-step explanation:we know that    The compound interest formula is equal to  [tex]A=P(1+\frac{r}{n})^{nt}[/tex]  where  A is the Final Investment Value  P is the Principal amount of money to be invested  r is the rate of interest  in decimal t is Number of Time Periods  n is the number of times interest is compounded per year in this problem we have  [tex]t=3\ years\\ P=\$4,000\\ r=3.4\%=3.4/100=0.034\\n=4[/tex]  substitute in the formula above  [tex]A=4,000(1+\frac{0.034}{4})^{4*3}[/tex]  [tex]A=4,000(1.0085)^{12}[/tex]  [tex]A=\$4,427.62[/tex]