we know that
The compound interest formula is equal to
\(A=P(1+\frac{r}{n})^{nt}\)
where
A is the Final Investment Value
P is the Principal amount of money to be invested
r is the rate of interest in decimal
t is Number of Time Periods
n is the number of times interest is compounded per year
in this problem we have
\(t=4\ years\\ P=\$5,350\\ r=0.035\
=1\)
substitute in the formula above
\(A=5,350(1+\frac{0.035}{1})^{1*4}=\$6,139.25\)
therefore
the answer is the option D
\(\$6,139.25\)
