Will mark the ! parker bought a 15-year treasury bond for a face amount of $400. the 3.5% interest will be compounded quarterly. what will the future value of patrick's investment be when he goes to cash it in on the maturity date 15 years from now? $674.64 $3,151.24 $414.18 $670.14

The amount A that Patrik will cash is given by the compound interest formula:

A = C (1 + i)ⁿ

where:
C = initial amount of money
i = interest, written as a decimal number
n = number of periods

In our case, the interest is compoundend quarterly, but we have a time in years. Therefore, we need to transform years in quarters:
n = 15×4 = 60

Now, we can apply the formula:

A = 400·(1 + 0.035)⁶⁰
   = 3151.24$

Hence, the correct answer is B) 3151.24$