Question: Use the compound interest formula A = P (1 + i ) n , where P is the original value of an investment, i is

Use the compound interest formulaA=P(1 +i)ⁿ,

wherePis the original value of an investment,iis the interest rate per compounding period,nis the total number of compounding periods, andAis the value of the investment afternperiods.

An investment broker deposits$1000into an account that earns12%annual interest compounded quarterly. What is the value of the investment after2years?Round to the nearest dollar.

$__________

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