There are 4 quarters in a year comprising of 3 months each .
Quarterly Interest rate = 12 / 4 = 3%
Number of quarters = 3 years * 4 quarters = 12
Future value = Amount * FVA3%,12
= 1300 * 14.19203
= $ 18449.64
Correct option is "C" - 18449.64
#Find future value annuity factor from future value annuity table (ordinary) at 3% for 12 periods.
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