After 6 years, what is the total amount of a compound interest investment of $35,000 at 4% interest, compounded quarterly? $37,153.21 $39,438.88 $44,440.71 $56,295.30

The given rate of interest is 4% compounded quarterly. This is a nominal rate of interest. To make it an effective rate of interest,

 = , where m is the number of periods in a year. There are 4 quarters in a year, so m =4. So,

 = = 0.0406

The working equation is

, where n=6, P = $35000,

F = $44,440.71

i believe the answer is d.

hope it you! : d