Lori-Anne Invests $2,500 Over a Two-And-A-Half-Year Period at 5% Compounded

Multiple Choice

Lori-Anne invests $2,500 over a two-and-a-half-year period at 5% compounded quarterly. Thereafter, the interest rate changes to 6% compounded monthly. Determine the value of the investment two years after the interest rate change.

A) $7,190.63
B) $6,190.63
C) $5,190.63
D) $4,190.63
E) $3,190.63