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Lucy deposited $62500 in an investment fund that provide 16 percent annual return compounded quarterly.

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Lucy deposited $62500 in an investment fund that provide 16 percent annual return compounded quarterly.

by AAPL » Mon May 31, 2021 5:29 am

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Lucy deposited $62500 in an investment fund that provide 16 percent annual return compounded quarterly. If she made no other transactions with the fund, in how much time, in months, did her investment earn a total of $5100?

A. 0.5
B. 2
C. 3
D. 6
E. 6.1

OA D
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