Answer:
$12,088.55
Step-by-step explanation:
The formula for compounded interest is A = P(1+r/n)^n(t)
A= final amount
P = initial amount
r = rate of interest
n = amount of times it is compounded
t = time or amount of years
In this case n=4 because you are compounding quarterly which is 4 times a year and t will be 3 because you are looking for the amount after 3 years. r is .14 because 14% is .14 in decimal form.
