Answer:
$1938.84
Explanation:
To solve this problem, we can use the formula for compound interest:
A = P(1 + r/n)^(nt)
Where:
A = the account balance after the investment period
P = the initial investment amount
r = the interest rate (as a decimal)
n = the number of times the interest is compounded per year
t = the number of years the investment is held
Plugging in the values we have:
P = $1500
r = 8% or 0.08 (decimal)
n = 4 (compounded quarterly)
t = 3
A = 1500(1 + 0.08/4)^(4*3)
A = 1500(1.02)^12
A = $1938.84
Therefore, the value of the account balance at the end of the investment is $1938.84.