Answer:
Explanation:
To calculate the amount of interest earned by Amelia's investment, we can use the formula for compound interest:
A = P * (1 + r/n)^(nt), where
A = amount after t years
P = principal amount ($9810)
r = annual interest rate (2.7%)
n = number of times the interest is compounded per year (quarterly, so n = 4)
t = number of years (13)
Plugging in the values, we get:
A = $9810 * (1 + (0.027/4))^(4 * 13)
A = $9810 * (1.00675)^52
A = $9810 * 1.8972436
A = $18561.61 (rounded to nearest cent)
Therefore, the interest earned by Amelia's investment is $18561.61 - $9810 = $8751.61.