Question

After 8 years, What is the total amount of a compound interest investment of $25000 at 3% interest, compounded quarterly?

Answer 1

"Quarterly" means "4 times per year."  The appropriate formula would then be

A = $25000 (1 + 0.03/4)^(4*8)    =  $25000 ( 1.0075)^32                 
                                                    =  $25000 (1.27)  = $31752.78