Question: Solve the problem. Round to the nearest cent. At the end of every 3 months, Teresa deposits $100 into an account that pays 4% compounded

Solve the problem. Round to the nearest cent.

At the end of every 3 months, Teresa deposits $100 into an account that pays 4% compounded quarterly. After 2 years, she puts the accumulated amount into a certificate of deposit paying 7.5% compounded semiannually for 1 year. When this certificate matures, how much will Teresa have accumulated?

A) $957.51 B) $891.87 C) $887.58 D) $894.40

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