Answer:
$2,391.20
Step-by-step explanation:
A= P (1+r/n)^nt
Where:
A = is the amount of money accumulated after n years, including interest.
P = is the principal (the initial amount you borrow or deposit)
r = is the annual rate of interest (percentage)
t = is the number of years the amount is deposited or borrowed for.
n = number of times interest is compounded per year
A= $2,000 (1+0.06/4)^4*3
= $2,000 (1+0.015)^12
= $2,000 (1.015)^12
= $2,000 (1.1956)
= $2,391.20
