1 point Liam deposits $\$ 2400$ into an account that earns $8.3 \%$ interest compounded quarterly. How much money will Liam have in 5 years? $\$ 4,112.32$ $\$ 3,575.64$ $\$ 3,619.09$ $\$ 2,605.49$

Step 1 ：The problem is asking for the future value of an investment given the principal amount, the interest rate, and the time period. The formula for future value (FV) when interest is compounded quarterly is: \(FV = P * (1 + r/n)^{nt}\) where: P = principal amount (the initial amount of money), r = annual interest rate (in decimal), n = number of times that interest is compounded per year, t = time the money is invested for in years.

Step 2 ：In this case, P = $2400, r = 8.3% = 0.083, n = 4 (since interest is compounded quarterly), and t = 5 years. We can substitute these values into the formula to find the future value of the investment.

Step 3 ：Substituting the given values into the formula, we get \(FV = 2400 * (1 + 0.083/4)^{4*5}\)

Step 4 ：Calculating the above expression, we find that the future value of the investment, rounded to two decimal places, is $3619.09. This matches one of the options given in the question, so it seems like our calculation is correct.

Step 5 ：Final Answer: The amount of money Liam will have in 5 years is \(\boxed{3619.09}\)