Answer:
Option C.
Step-by-step explanation:
The formula for amount after compound interest is
[tex]A=P(1+\frac{r}{n})^{nt}[/tex]
where, P is principal, r is annual rate of interest, r/n is per period interest, n is number of time interest compounded in 1 year, t is number of years.
Given information:
Principle : [tex]P=35000[/tex]
Per period interest : [tex]\frac{r}{n}=1\%=0.01[/tex]
Number of time interest compounded in 1 year : [tex]n=4[/tex]
Number of years : [tex]t=6[/tex]
Using the formula we get
[tex]A=35000\left(1+0.01\right)^{\left(4\cdot6\right)}[/tex]
[tex]A=35000\left(1.01\right)^{\left(24\right)}[/tex]
[tex]A=44440.7126986[/tex]
[tex]A\approx 44440.71[/tex]
The value of a $35,000 investment after 6 years is $44,440.71.
Therefore, the correct option is C.
