An investment of $6,530 earns interest at the rate of 4% and is compounded quarterly. What is the accumulated value of the investment at the end of 8 years?

For quarterly compounding, use A = P(1 + r/n)^(nt), where P = $6,530, r = 0.04, n = 4, and t = 8. Thus A = 6,530(1 + 0.04/4)^(4×8) = 6,530(1.01)^32 ≈ $8,978.36. The accumulated value is choice D, $8,978.36.

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