Find the account balance at the end of the second period for $3,000.00 invested at 9% compounded quarterly.

A = $3136.51875

Explanation:

Given that:

The principal = $3,000.00

Rate = 9%

Time = 6 months

Since the amount is compounded quarterly;

r = 9/4 = 2.25 %

t = 6 months = 2 quarter

Using the formula:

A = P (1+r/100) ^t

A = 3000.00 (1 + 2.25/100) ^2

A = 3000.00 (1 + 0.0225) ^2

A = 3000.00 (1.0225) ^2

A = 3000.00 (1.04550625)

A = $3136.51875