Final answer:
The amount that results from the given investment is approximately $432.19.
Step-by-step explanation:
To find the amount that results from the given investment, we can use the formula for compound interest. The formula is:
A = P(1 + r/n)^(nt)
Where:
A = the amount
P = the principal (initial investment)
r = the annual interest rate (in decimal form)
n = the number of times interest is compounded per year
t = the number of years
Given:
P = $400
r = 4% (or 0.04)
n = 4 (compounded quarterly)
t = 3 years
Substituting the values into the formula:
A = 400(1 + 0.04/4)^(4*3)
Simplifying:
A = 400(1.01)^12
Calculating:
A ≈ $432.19
Therefore, the amount that results from the given investment is approximately $432.19.