Gracie bought a cd for $810 that earns a 2.9 APR and is compounded quarterly. The CD matures in 5 years. How much will this CD be worth at maturity?

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A: $909.26

B:935.90

C:963.34

D:$883.25

The amount that this CD will be worth at maturity would be $935.90. The right answer is B.

Step-by-step explanation:

In order to calculate How much will this CD be worth at maturity we would have to use and calculate the formula of future value as follows:

Future Value=Present value * (1+i/n) ∧nt

Future Value=$810 * (1+2.9%/4) ∧ (4*5)

Future Value=$935.90

The amount that this CD will be worth at maturity would be $935.90