Use the compound interest formula to find the compound amount on a $12,000 investment at 5% compounded quarterly for 4 years.$14,400$14,638.67$2,400$2,638.67

Answer:B, $14,638.67Step-by-step explanation:the compound interest formula is A = P(1 + r/n)^ntA = the resultP = principal amountr = the rate (in decimals)n = number of times its compounded (ex: yearly, semi-annually)t = timeso we are given the value for P (12,000), r (5% which = 0.05), n (keyword is quarterly, which is the value 4), and t (4 years), we plug this into the formula:A = 12,000(1 + 0.05/4)^4×4you can solve this easier by plugging the equation into the calculator, or doing it step by stepA = 12,000(1 + 0.05/4)^4×4 < exponent turns into 16A = 12000(1 + 0.05/4)^16 < (1 + 0.05/4) turns into 1.0125A = 12000(1.0125)^16  < raise 1.0125 to the 16th powerA = 12000(1.21988954) < multiply 1.21988954 by 12,000A ≈ 14,638.67so $12,000 invested at 5% compounded quarterly for 4 years is approximately $14,638.67, which is answer choice B