An investment of $6,530 earns interest at the rate of 4% and is compounded quarterly. what is the accumulated value of the investment at the end of 8 years? a. $7,071.05 b. $7,659.97 c. $8,936.76 d. $8,978.36

The accumulated value of the investment at the end of 8 years is $8,978.36

Step-by-step explanation:

An investment of $6,530 earns interest at the rate of 4% and is compounded quarterly.

We know that,

where,

A = Accumulated value,

P = Principle amount = $6530

r  = Rate of interest = 4% = 0.04

n = Number of times interest is compounded in a year = 4 (as it is compounded quarterly)

t = time period = 8 years

Putting the values,

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step-by-step explanation:

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