Solve the Problem

question 83

Multiple Choice

Solve the problem. Round to the nearest cent as needed.
-Cara knows that she will need to buy a new car in 3 years. The car will cost $15,000 by then. How much should she invest now at 12%, compounded quarterly, so that she will have enough to buy a new car?

• A) $10,520.70
• B) $12.594.29
• C) $11,957.91
• D) $9532.77