10. An investment of $\$ 850$ earns $6.75 \% / 2$. Calculate the value of the imessmenn when the interest is compoung quarterly for 5 years.
a. $\$ 3138.89$
b. $\$ 1178.31$
c. $\$ 924.18$
d. $\$ 1187.57$

Answer

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Answer

$\boxed{1187.57}$

Steps

Step 1 ：Calculate the future value of the investment using the formula: FV = P * (1 + r/n)^(nt)

Step 2 ：Plug in the values: FV = 850 * (1 + 0.0675/4)^(4*5)

Step 3 ：Simplify the expression: FV = 850 * (1.016875)^20

Step 4 ：Calculate the final value: FV = $1187.57$

Step 5 ：$\boxed{1187.57}$