Answer:
F= $3179.31
Step-by-step explanation:
[tex]F=P(1+i)^{n}[/tex]
Here
F= future value after 12 year
P = present value
i = interest
n= number compound on money
So P =$1972 i= 4% and n = 12 x 4= 48
Here as it is compounded quarterly so i= 4%/4=1%=0.01
[tex]F=1972(1+0.01)^{48}[/tex]
[tex]F=1972(1.01)^{48}[/tex]
[tex]F=1972(1.61)[/tex]
F= $3179.31
