Use the compound interest formula to compute the total amount accumulated and the interest earned $4500 for 3 years at 5% compounded quarterly the total amount accumulated after 3 years is $5223.40 (round to the nearest cent as needed.) the amount of interest earned is $ (round to the nearest cent as needed.)

The formula to find the compound amount if compounded quarterly :-

 , where P is the principal amount, r is the rate of interest ( in decimal) and t is the time period ( in years).

Given : P=  $4500 , r= 5%=0.05 and t= 3 years

Then, the compound amount after 3 years if compounded quarterly :-

Hence, the total amount accumulated after 3 years is $5223.40

Interest = Compound Amount - Principal amount

=$5223.40-$4500=$723.4

Hence, the  amount of interest earned is $723.4 .

All of the ones are below one

Step-by-step explanation: