Answer:
A = $8977.47
Step-by-step explanation:
Use the compound amount formula: A = P(1 + r/n)^(n*t). Here, n = 4 because compounding is quarterly.
A = $5958(1 + 0.059/4)^(4*7)
= $5958(1 + 1.01475)^28
= $5958(1.01475)^28
= $5958(1.507)
A = $8977.47 (which matches the 3rd possible answer)
