For this kind of scenario, let's apply the Quarterly Compounding Formula:

Where,
A = The total balance of the loan including the interest = $8,000.00
P = Principal Amount (Loan amount)
r = Rate of interest = 3%
n = No. of periods = 2 years
Let's plug in the values to the formula. we get,




We now get the accumulated interest:


Therefore, Aubrey accumulated a total of $1,684.73 interest.