An investment of $1,000 at a rate of r percent compounded annually was worth $1,500 after 4 years. At the same rate what would be the value of the investment after another 8 years?
(a) $2,500
(b) $2,875
(c) $3,025
(d) $3,150
(e) $3,375
(a) $2,500
(b) $2,875
(c) $3,025
(d) $3,150
(e) $3,375
