The accumulated amount is 2,122.20 to the nearest cent
Using formula and parameters given ;
- A = Accumulated amount
- P = principal = $1,500
- r = interest rate = 7%
- k = number of periods compounded = 4
- t = years = 5
Substituting our values into the formula;



A = 1,500 (1.4148)
A = 2,122.20
The accumulated amount is 2,122.20 to the nearest cent