Find the Compound Interest Earned by the Deposit $\$ 4000$ At $1 \%$

question 25

Multiple Choice

Find the compound interest earned by the deposit. Round to the nearest cent.
- $\$ 4000$ at $1 \%$ compounded quarterly for $1 \frac { 1 } { 2 }$ year

• A) \(\$ 60.15\)
• B) \(\$ 60.38\)
• C) \(\$ 240.00\)
• D) \(\$ 246.08\)

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